Questions? Here’s a good place to start looking for answers.
If you can’t find clarification below, please get in touch with us and we’ll gladly help you find the answers you need.
FAQs for Individuals and Families – Minnesota Health Insurance
Q: Am I now legally required to have health insurance?
A: Yes. As of January 1, 2014, all U.S. citizens and legal residents have been required by law to obtain Minnesota health insurance coverage. Many will be covered by an employer plan, some will qualify for health programs and others will have to purchase insurance themselves.
Q: Can I buy Minnesota health insurance after open enrollment ends?
A: Yes. Outside of open enrollment, you still have options for getting healthcare coverage. Your options depend on your personal circumstances. If you’ve had a qualifying life event, for instance, then you qualify for a special enrollment period (SEP) of 60 days from the event to select a healthcare plan.
Q: What is a qualifying life event?
A: This can include marriage, divorce, having a baby or adopting a child, moving to a new state, or certain changes in your income, or a loss of group coverage.
Q: When is the next open enrollment period?
A: The next enrollment period is from November 1st, 2016 through January 31st, 2017.
Q: If my employer pays my health benefit as a defined contribution, do I pay income taxes on this amount?
A: No. In fact, that is one of the key benefits of participating in a defined contribution plan structure.
FAQs for Business Owners – Minnesota Health Insurance
Q: What is my benefit by setting up a Self- Insured Health plan for my company?
A: If your group stays under the annual claim limit you will receive money back, which can quickly add up to thousands in savings.
Q: What happens if we go over the claims limit?
A: Nothing, all your claims will be covered and it will not cost you or your employees any additional money in that calendar year.
Q: Does it cost more to have a Self-Insured health plan?
A: No, in most cases it is the same cost as a traditional group plan.
Q: What do I need to do to set up a Self-Insured plan?
A: All we would need is a current census and a claims history from you current group plan. We would then get you pricing and plan details the next day.
Q: Will my employees know they are on a Self-Insured health plan?
A: No, it will look and feel exactly like a traditional group plan to your employees.
Q: What is the cost to set up the Benefits Administration System through MN Health Insurance?
A: Nothing! We pick up the cost and give you access to the same systems the large groups have used for years.