Minnesota Governor Tim Walz is announcing a plan to get health insurance providers to pay more for Minnesotans who buy their insurance through MNSure, the state's health care exchange.
During a press conference Thursday afternoon, Commerce Department Commissioner Grace Arnold said the proposal would shift the responsibility for the state share of re-insurance to insurers rather than taxpayers.
"So this is one of many steps that we've taken to make the healthcare system simpler, easier to access, and more affordable this legislative session," she tells WCCO Radio.
Arnold says under this plan, insurance companies will be required to create a fund that covers high-cost procedures, like premature births or cancer treatments, for people on the individual market.
The plan also would double the surcharge to large health care corporations.
Currently, according to Arnold, insurance companies pay 80% of the cost while the state covers the rest. This new plan would increase the amount paid the insurers.
The proposal comes as the Trump Administration pushes for what could potentially be $880 billion in cuts to federal Medicaid. If those cuts are approved, it could shift more costs to states.
"As President Trump looks to fund tax cuts for the wealthy by cutting health care for millions of Americans, we're going to save Minnesotans money by making sure the insurance industry is paying their fair share," said Governor Walz. "We’re helping ensure that families can afford their life-saving medication and emergency care."