Minnesota is scheduled to announce premium rates for 2015 Obamacare plans in October and signs point to looming price hikes that will hit Minnesotans doubly hard.
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The largest insurer with the lowest premium rates on Minnesota’s Obamacare exchange is dropping out because the government health-exchange is unsustainable, the company announced Tuesday.
PreferredOne Health Insurance told MNsure, the state-run exchange, Tuesday morning that it would not continue to offer its popular insurance plans on the marketplace in 2015. It’s “purely a business decision,” spokesman Steve Peterson told KSTP-TV. The company is losing money on administrative costs for plans offered on the bureaucratic and glitchy government exchange.