Results soar at Minnesota s 7 big health insurers as claims fall Settlements, delayed care for non-coronavirus issues shaped 2020 finances at nonprofit health plans. April 23, 2021 9:00am Text size Copy shortlink:
Legal settlements and delayed care amid the pandemic drove a surge in operating income last year for Minnesota s nonprofit health insurers.
The COVID-19 impact was widely noted last spring as a shutdown in elective procedures caused use of medical services to plummet. For the year, per-person medical care expenses declined by 2%, according to numbers this week from the Minnesota Council of Health Plans.
Less visible were financial settlements with the federal government related to the risk corridors program in the Affordable Care Act (ACA). Blue Cross and Blue Shield of Minnesota, in particular, received more than $200 million through its settlement, which covered a portion of
Council Releases 2020 Industry Financial Results
Plans provide more than $14 billion in medical care during volatile year
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ST. PAUL, Minn., April 1, 2021 /PRNewswire/ In a year marked by the uncertainty of the COVID-19 pandemic, Minnesota s seven nonprofit health plans focused on supporting the health and financial stability of more than 2.5 million enrollees. Last year, the plans paid more than $1.021 billion to their enrollees for insurance premium relief and cost-sharing waivers related to COVID-19 testing and inpatient treatment, the Minnesota of Council of Health Plans announced today.
Plans also reported a collective operating margin of 3.23% on revenue of $16.4 billion in 2020, largely the result of enrollees deferring medical care amid the pandemic. Meanwhile, overall medical expenses for Minnesotans rose 0.63% over 2019 to $14 billion, with pharmacy expenses up 13% year over year.
I’ve noticed recently that some rocks have been lobbed from writers on the left towards Governor Noem regarding the belief that the administration should be doing more for the disability community during this time of COVID, as if the Governor somehow doesn’t care or is non-responsive to the needs of those with disabilities.
At least from my own experience, I don’t believe this could be farther from the truth. And you don’t have to go back very far to prove it so. Back just before this crisis that we collectively call COVID, when families of those with Autism and other disabilities were seeking relief for expensive treatments not covered by insurance, it was Governor Kristi Noem who moved the needle.
North Dakota lawmakers kill affordable insulin bill The insurance company lobbyists got their day, said Sen. Tim Mathern, D-Fargo, one of the bill s sponsors. 5:10 pm, Feb. 22, 2021 ×
A collection of insulin vials. Insulin is an enzymatic injection that Type 1 and some Type 2 diabetics require on a daily basis to live. Between 1996-2018, insulin prices rose by 1,200%, while production costs remained static, according to a study by the Harvard Medical Review. The same study noted prices doubled between 2012 and 2016 alone. Gabriel Lagarde / Brainerd Dispatch file photo
BISMARCK Twelve-year-old Nina Kritzberger was preparing to share with North Dakota lawmakers her experience of going to school, playing sports and doing everything kids her age do while living with Type I diabetes.
An estimated 15,300 North Dakotans with diabetes require insulin medication. 6:00 am, Feb. 22, 2021 ×
North Dakota senators have watered down a bill that would have capped the upfront cost of insulin at $25 for insured patients. Hillsboro resident Angela Kritzberger has paid up to $1,200 for a 30-day insulin prescription for her daughter Nina. David Samson / The Forum
BISMARCK A bill that would have capped the upfront cost of insulin at $25 for residents with a North Dakota insurance plan is a shell of its former self after changes by lawmakers.
Senate Bill 2183 garnered strong objections to its attempt to make insulin affordable for people with diabetes. Some diabetics require insulin a hormone the body uses to allow blood sugar to be made into energy in order to survive. The cost of insulin has increased significantly over the past decade, with the average price of a prescription doubling from $344 in 2012 to $666 in 2016, according to the Health Care Cost Ins