HF816 Summary

• Modifies health insurance underwriting and rating rules for individual and small group markets, including premium variation limits of ±25% from standard rates and restrictions on preexisting condition exclusions effective January 1, 2022.

• Creates Minnesota Health Risk Pool Association to provide reinsurance payments for individuals with specified high-cost conditions (46 conditions listed including HIV, cancer, diabetes), with lifetime limit of $5,000,000 per eligible individual.

• Allows creation of unified personal health premium accounts administered by licensed entities to receive contributions from multiple sources for payment of health insurance premiums, with tax advantages.

• Establishes Minnesota Health Contribution Program providing monthly defined contributions to MinnesotaCare enrollees earning 200%+ of federal poverty level to purchase individual health coverage.

• Repeals entire Chapter 62K (Minnesota Health Plan Market Rules) and eliminates previous guaranteed renewal and geographic rating restrictions, consolidating health insurance market regulations.