We want to clarify a statement in a recent StarTribune Commentary.
In “Painful health insurance premiums are merely average. But, average’ isn’t affordable when catastrophic medical bills are no longer widely shared” we stated that one of Wakely’s research findings was “2017 premiums aren’t out of line when compared with the medical bills paid.” This statement is the opinion of the Minnesota Council of Health Plans and not one of Wakely’s direct research findings.
As part of their research, Wakely did not examine detailed claims data that would link premiums directly to medical bills. Rather, Wakely’s research states “Nationally many insurer’s premium rates were inadequate to cover costs for 2014 and 2015. Minnesota’s premiums were also inadequate as evidenced by insurer losses. In 2017, Minnesota’s premiums are now more in line with other states.”
We don’t yet know if 2017 premiums match 2017 medical bills.