MN Insurance Dept.: $100M Cut Won’t Affect Reinsurance Program

Minnesota’s insurance department says the state will receive about $100 million less in federal “pass through” funding to support its reinsurance program for the 2019 plan year due to lower-than-expected premiums, but a department spokesperson says the updated federal funding estimate will not affect program operations. CMS last October had estimated Minnesota’s Premium Security Plan (MPSP) would get about $184 million in federal money for the 2019 plan year, but CMS in a Nov. 30 letter said the program would...