Governor Dayton signed the Minnesota Health Insurance Exchange Bill into law today. The new law creates an online marketplace for individuals and small businesses to shop for, compare and ultimately purchase Health Insurance. Health Insurance Exchanges were a key part of the Affordable Care Act overhaul of Health Reform. Some states chose to accept a default federally designed program, but Minnesota has designed an exchange by Minnesota for Minnesota.
Approximately 1.2 million Minnesotans will use the exchange to purchase health insurance once it goes live in October. Almost 300,000 of those Minnesotans will be purchasing Health Insurance for the first time thanks to provisions in the Affordable Care Act that make insurance more affordable and prohibit insurers from declining coverage for people with a pre-existing condition.
Governor Dayton thanked his administration, the Health Insurance Exchange task forces, bill authors and supporters and advocacy groups. The American Heart Association contributed comments during the design process in Minnesota both individually and as a founding member of the Patient Advocacy Coalition – a group of Public Health organizations committed to making sure that health reform was done in the most patient/consumer friendly way possible.