The Trump Administration's proposed "Big Beautiful Bill" could have a profound impact in Minnesota and the state's MNSure program. Over 140,000 Minnesotan's get their insurance through MNSure.
House Republicans passed the massive tax breaks and spending program cuts in an all-night session with a narrow, one-vote margin. If the bill were to pass through the Senate, it would have devastating consequences says MnSure's Chief Executive Officer Libby Caulum.
"We estimate that over 62,000 Minnesotans could lose their private health insurance coverage," says Caulum. "On average, these consumers will see a premium increase of about $180 every month."
It would also reduce the amount of time to set-up coverage, cutting the open enrollment period to just 45 days starting this fall. That could undermine Minnesota's market stability, and make it harder for people to sign up.
"What they're looking at is adding a requirement for Minnesotans and all folks who buy health insurance through marketplaces to send in additional verification for their income and their citizenship," explains Caulum. "And so, requiring Minnesotans to submit additional paperwork is onerous. It adds a lot of red tape."
Minnesotans could feel the effects as early as this fall according to Caulum.
"This package is so big, and it moved through the House so quickly, that many people are completely unaware that it would have devastating consequences for tens of thousands of Minnesotans who buy health insurance."
Central to the package is the GOP's commitment to extending some $4.5 trillion in tax breaks they engineered during Trump’s first term in 2017, while temporarily adding new ones he campaigned on during his 2024 campaign, including no taxes on tips, overtime pay, car loan interest and others.
To make up for some of the lost tax revenue, the Republicans focused on changes to Medicaid and the food stamps program, largely by imposing work requirements on many of those receiving benefits. There's also a massive rollback of green energy tax breaks from the Biden-era Inflation Reduction Act.