Hundreds of thousands of Minnesotan residents are preparing themselves for the increase in the 2016 insurance rates. Many major insurance companies have proposed increases of about 20% each. Blue Cross and Blue Shield, Minnesota’s largest insurer for individual market, on the other hand has proposed a hike of more than 50%.
The higher rates will not only upset the consumers, but it will also raise a question of why there is a need for these increases. Although Governor Mark Dayton is not happy with the hikes in the rates, he leaves it up to the insurers to explain to their consumers.
The state will be releasing the rates later today. Visit mprnews.org for more information.