Bill > SF565

This bill amends Minnesota's health insurance regulations by establishing a new requirement for the commissioner of commerce to provide financial compensation to health plan companies when a mandated health benefit proposal increases per-member, per-month costs for the non-public insured population. Under the new provision, if an evaluation of a health benefit proposal shows a net cost increase and the proposal becomes law, the commissioner must make payments to health plan companies within 60 days of receiving a statement from those companies to help offset the additional expenses across individual, small group, and large group insurance markets. The bill specifies that this new cost defrayal process will follow existing federal guidelines for calculating and ensuring quantifiable cost calculations, and the provision will become effective on January 1, 2026, applying to all mandated health benefit proposals passed into law after that date. This legislation aims to provide a mechanism for health insurance companies to recoup additional costs associated with newly mandated health benefits, potentially helping to mitigate the financial impact of such mandates on insurers.

Business and Industry, Health and Social Services

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0565&ssn=0&y=2025