Our association has joined with NAIFA-MN to voice our support for a proposal to provide individuals purchasing individual health insurance in Minnesota with a 25% premium rebate. The rebate would apply to individual health insurance premiums whether policies were bought through MNsure or the private market. It would apply to premiums beginning January 1, 2017.
Here is a text of correspondence sent by the MIIA and NAIFA to key legislative leaders. We hope that legislators and the governor will agree to premium relief and enact this proposal next week as part of special legislative session.
We are contacting you today to encourage you and your colleagues to take immediate action to provide relief to your constituents and our clients who have attempted to purchase individual health insurance in our state. The significant increases in health insurance premiums have made it nearly impossible for some of our clients to purchase and maintain health insurance.
Obviously, there is a great deal of work that needs to be done to address the near failure of our individual health insurance market. The proposed $312 million Premium Relief Bill is a good first step.
On behalf of our over 4,200 insurance professionals statewide, we ask you to please support and enact this proposal as soon as possible to help bring a small bit of clarity to the significant premium increases people will experience on January 1. Immediate action is necessary.
Thank you for your consideration. We pledge our and our organizations' ongoing support to your further attempts to fix the problems with individual health insurance in our state. Feel free to call on us.
Ted Dyste, President, Minnesota Independent Insurance Agents
Scott Wolf, President, National Association of Insurance and Financial Advisors - Minnesota
Dominic Sposeto, MIIA and NAIFA Lobbyist
WE NEED YOUR HELP
The MIIA is committed to working with the legislature on a more permanent fix for our broken individual health insurance marketplace. We are in the process of setting up a health insurance subcommittee within our legislative affairs committee to address health insurance proposals in the 2017 legislative session and are seeking members for this group. If you are an MIIA member who is considerably involved in selling health insurance, please consider joining this subcommittee. Contact either Dan Riley or Dominic Sposeto at the MIIA Office to express you interest in serving. Thank you