Last month, the Star Tribune published this article about projected lower individual plan rates in Minnesota for the 2019 benefits year. In the article, it was reported that the four largest carriers in Minnesota, including Blue Cross HMO, Health Partners, Medica, and Ucare are proposing lower rates. The proposed decreases range from 7% to over 12% (read the blog post here).
On Friday, the Star Tribune reported more good news. In addition to lower individual plan rates in Minnesota, the Open Enrollment period is being extended. This year, Minnesotans can purchase 2019 coverage through the individual market from Nov. 1 to Jan. 13.
Founded in 2013, Gravie has been reinventing employee benefits making them better, easier and more affordable. Gravie walks employers through every step of designing, building and executing a custom employee benefits plan – one that controls your costs and empowers employees to make their own choices.
Unlike traditional benefit models, with Gravie, employers use a Defined Contribution strategy to control costs by choosing how much additional income to provide each employee to purchase benefits. Employees choose their benefits through one of Gravie’s marketplaces, including Gravie’s Marketplace for Individuals & Families, which offers the best of publicly and privately available individual health plans.
With the newly released rate information, Gravie’s solution for cost control and broader choice is a fit for more employers than ever before. Interested in getting started with Gravie? Contact us today.