North Dakota Insurance Commissioner John Godfred has released the approved health insurance rates for Individuals and Small Groups plans for 2021, combining advertising with this tip for consumers: Buy The Best Plan Ahead, Stay Informed and buy.
Godfread said that, for the most part, the approved changes will have little effect on insurance premiums for most people.
"The vast majority of North Dakota residents should see little to no change in their health insurance premiums from this year to the next," Godfred said in announcing the approved health insurance rates for 2021.
"During these turbulent times, we felt it was important to provide as much consistency as possible to our clients, especially when it comes to health insurance," added Godfried.
Citing data from the Kaiser Family Foundation, the North Dakota Department of Insurance said that in 2018, about 57% of North Dakota residents participated in a group health insurance plan offered by their employer, while 8% they bought health insurance themselves through a marketplace or agent.
About 27% of North Dakota residents received health care benefits through Medicare or Medicaid in 2018, while 8% were uninsured, according to the foundation's data.
For 2021, the North Dakota Department of Insurance agreed not to increase rates for two of the four insurers that offer small group plans in the state: Blue Cross Blue Shield of North Dakota and Sanford Health Plan.
As for the other two companies offering small group plans, the Insurance Department agreed to increase United Healthcare's rates with an average increase of 7.91% and maximum and minimum increases of 14.31% and 4.77%, respectively.
The increases were approved by Seguro Medica, with an average increase of 0.16% and maximum and minimum increases of 2.27% and -3.18%, respectively.
In the case of a single market, the Department of Insurance agreed to increase the price of Blue Cross Blue Shield of North Dakota by an average increase of 0.63%, maximum and minimum increases of 5.4% and 0%.
Blue Cross Blue Shield of North Dakota is the largest insurer in the state's single market.
Sanford Health Plan approved rate increases for the single market included an average increase of 14.28% and maximum and minimum increases of 31.32% and -11.87%, respectively.
Medica Health Plan approved price increases for the individual market included an average increase of 0.90% and maximum and minimum increases of 1.94% and -0.01%, respectively.
In announcing the approved health insurance rates for 2021, Godfread said that 2020 was an unprecedented year in recent memory.
"In the midst of a global pandemic, the Department of Insurance understands the importance of providing comprehensive and affordable health insurance," Godfried said.
The Insurance Department shared these tips for those who receive health insurance through employer-sponsored plans:
- If you're already covered by an employer-sponsored plan, consumers should pay close attention to their enrollment options this year. Premiums and coverage limits have changed.
- If a person has recently changed jobs or plans to change jobs, they may be subject to a trial period, up to 90 days, during which they are not eligible for group coverage.
- If you lose coverage from a previous employer, the person generally has 60 days to enroll in private exchange private insurance during a special registration period.
The Ministry of Insurance instructed people who purchase their own health insurance that the open enrollment period for 2021 will begin from November 1 to December 15, with coverage beginning January 1, 2021.
The Insurance Department said that those who currently have coverage through the stock exchange and do not choose a plan for 2021 will be re-enrolled in the same or a similar plan, noting that consumers should take note of the re-enrollment that can generate greater costs to a consumer.
There are two ways to purchase individual insurance in North Dakota, either through the federally run Healthcare Exchange at www.HealthCare.gov, or through a licensed insurance agent.
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