This bill establishes a premium subsidy program administered by MNsure to assist eligible individuals in paying for health insurance coverage in the individual market, effective January 1, 2026. It amends Minnesota Statutes 2024, section 62E.23, subdivision 1, to extend the disbursement of reinsurance payments for claims costs incurred by eligible health carriers through December 31, 2025. The bill introduces new provisions under chapter 62V, defining terms such as "eligible individual," "gross premium," and "net premium." The premium subsidy will amount to 20% of the monthly gross premium for eligible individuals purchasing individual health plans, promoting general welfare without affecting eligibility for other Department of Human Services programs. Additionally, the bill repeals several sections of Minnesota Statutes related to the Minnesota premium security plan, signaling its expiration.

The bill outlines the responsibilities and requirements for eligible health carriers and the Minnesota Comprehensive Health Association regarding audits, reporting, and compliance with reinsurance payment requests. Health carriers must provide necessary documents for verification and are subject to audits to assess compliance. If an audit reveals deficiencies, carriers must respond within 30 days with a corrective action plan. The bill also establishes the premium security plan account within the state treasury, funded through various sources, including state innovation waiver funds, and designated for grants to the Minnesota Comprehensive Health Association. The board is required to engage an independent auditor to ensure transparency and accountability in managing the premium security plan and associated funds.

Statutes affected:
Introduction: 62E.23
1st Engrossment: 62E.23
2nd Engrossment: 62E.23