Minnesota Insurance Marketplace Bill Summary

• Establishes the Minnesota Insurance Marketplace as a state health benefit exchange governed by a 7-member board of directors appointed by the governor with legislative confirmation, creating a centralized platform for individuals and small employers to compare and purchase health insurance coverage.

• Grants the Marketplace authority to certify health plans, establish insurance producer requirements, operate navigator and in-person assister programs, and facilitate enrollment in qualified health plans and public health care programs beginning January 1, 2014.

• Authorizes the Marketplace to retain up to 1.5% of premiums through 2014, then up to 3.5% thereafter for operations, with state cash flow assistance of up to $20 million available for fiscal years 2014-2015, repayable by June 30, 2015.

• Establishes comprehensive data privacy protections classifying participant data as private/nonpublic, prohibiting sale of data, restricting data sharing to specified government agencies and service providers, and prohibiting collection of firearm ownership information.

• Creates a Legislative Oversight Committee with 10 legislators to review Marketplace operations annually, including proposed rules and budgets, with authority to delay rule implementation if majorities in both chambers request further review.