MN HF3985

Amends Minnesota Statutes section 62A.021, subdivision 1 to clarify that health carriers must not consider health care claims or costs of nonresidents when determining insurance rates.

Applies to health care policies and certificates issued to individuals and small employers in Minnesota's individual and small employer markets.

Requires health carriers to demonstrate compliance with loss ratio standards (65 percent for individual market, 75 percent for small employer market) based only on Minnesota resident claims data.

Non-compliance with this requirement constitutes an unfair or deceptive practice in insurance subject to penalties under sections 72A.17 to 72A.32.