Health Insurance Companies in MN: Top 19 Options Compared

Minnesota residents have a wide range of health insurance options available to them.

With so many choices, it can be overwhelming to decide which plan is best for you.

In Minnesota, the top 19 health insurance companies offer a variety of plans, including HMOs, PPOs, and EPOs.

Some of these companies, like Blue Cross and Blue Shield of Minnesota, have been serving the state for over 80 years.

Each company has its own unique features and benefits, such as coverage for specific medical conditions or discounts for certain services.

For example, HealthPartners offers a program called "Healthy Rewards" that provides financial incentives for healthy behaviors.

Ultimately, the best health insurance company for you will depend on your individual needs and priorities.

It's essential to research and compare the different options to find the one that works best for you.

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Minnesota Health Insurance Agency is headquartered in Mendota Heights, Minnesota, and was founded in 2011. They have a small team of 1-10 employees.

BG Health Plans is a health insurance brokerage company that offers personalized Roadmaps to Medicare and provides options for stand-alone dental and vision coverage. They strive to simplify the enrollment process and ensure their clients receive the coverage that best fits their needs.

If you're looking for health insurance companies in MN, here are a few options to consider:

Minnesota has a range of health insurance companies to choose from, each with its own unique features and benefits. One such company is BG Health Plans, which offers personalized Roadmaps to Medicare.

BG Health Plans helps individuals and families navigate the complex process of selecting the right health insurance plan. They also provide options for stand-alone dental and vision coverage, making it easier for clients to get the coverage they need.

Minnesota Health Insurance Agency is another company that helps individuals, businesses, and Medicare recipients find the ideal coverage for their needs and budget. Their team of knowledgeable advisors strives to simplify the enrollment process.

Here are some of the top health insurance companies in MN:

BG Health Plans has a team of knowledgeable advisors who work hard to ensure their clients receive the coverage that best fits their needs.

Blue Cross and Blue Shield of Minnesota offers a wide range of health insurance plans, including individual and family plans, Medicare supplement plans, and group plans for businesses.

When evaluating health insurance companies, consider their network of providers. UnitedHealthcare has a large network of doctors and hospitals in Minnesota, which can be a deciding factor for those who value convenience.

Blue Cross and Blue Shield of Minnesota has a reputation for providing quality customer service, with a 24/7 customer service hotline.

Look for health insurance companies with a strong financial rating, such as UnitedHealthcare, which has an A- rating from A.M. Best.

Consider the type of coverage you need, such as dental, vision, or prescription drug coverage, which may be offered by companies like Medica.

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In Minnesota, health insurance companies are regulated by the Minnesota Department of Commerce.

The state has a unique health insurance market that allows individuals to purchase coverage outside of the Affordable Care Act's (ACA) marketplace, known as the individual market.

Some health insurance companies in Minnesota, such as Blue Cross and Blue Shield of Minnesota, offer a range of plans that meet the ACA's minimum essential coverage requirements.

These plans often include essential health benefits like maternity care, mental health services, and prescription drug coverage.

We offer a range of policy types to suit different needs, including Major Medical Insurance, which provides comprehensive coverage for medical expenses.

Our Major Medical Insurance policy covers a wide range of medical services, from doctor visits to hospital stays.

We also offer Short Term Health Insurance, which provides temporary coverage for individuals who are between jobs or waiting for employer-sponsored coverage to kick in.

Short Term Health Insurance is a great option for those who need coverage for a limited time, as it's often more affordable than traditional health insurance.

Dental Insurance is another policy type we offer, which covers routine cleanings, fillings, and other dental procedures.

Our Dental Insurance policy helps prevent costly dental problems down the line by covering regular check-ups and cleanings.

For residents of Minnesota, we offer MNsure, a state-specific health insurance program that provides affordable coverage to those who qualify.

MNsure is a great option for those who don't have employer-sponsored coverage or can't afford traditional health insurance.

We also offer Vision Insurance, which covers eye exams, glasses, and contact lenses.

Vision Insurance is a great way to stay on top of your eye health and catch any potential problems early on.

Here are the policy types we offer:

Hospital indemnity insurance is designed to pay cash benefits for qualifying hospital stays and related medical costs. This type of insurance can help cover unexpected expenses, such as co-pays and deductibles.

You can't predict a hospital stay due to injury or sickness, but you can prepare with hospital insurance. It's a smart move to have a financial safety net in place.

Hospital insurance typically pays cash benefits for qualifying hospital stays, which can range from a few days to several weeks. This can help you cover essential expenses, like groceries and rent, while you're recovering.

Having a hospital indemnity insurance policy can give you peace of mind and help you focus on your recovery, rather than worrying about medical bills.

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Medical Assistance is a vital healthcare program in Minnesota, providing coverage to those who need it most. In 2022, nearly 1.3 million Minnesotans were enrolled in Medical Assistance and MinnesotaCare.

Total premium revenue for Medical Assistance and MinnesotaCare in 2022 was $11.2 billion.

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Medical Assistance and MinnesotaCare have a significant market share in Minnesota's healthcare landscape. Let's break down the percent distribution of Medical Assistance and MinnesotaCare market share by premium revenue and enrollment.

Unfortunately, the article section doesn't provide specific market share data for Medical Assistance and MinnesotaCare. However, we do know that Medical Assistance and MinnesotaCare have a combined enrollment of nearly 1.3 million Minnesotans in 2022.

When purchasing health insurance in MN, it's essential to consider the doctor and hospital network offered by the insurance company. This network determines which healthcare providers you can see without additional out-of-network costs.

Individuals can purchase additional insurance to supplement their major plan, which will pay for medical services not covered by the main plan. This type of insurance can cover expenses such as visits to the doctor, surgical procedures, or emergency medical care.

The benefits of this insurance are paid even if the patient has other insurance policies, which is crucial since medical expenses can be thousands of dollars daily.

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Medical Assistance and MinnesotaCare market share by premium revenue in 2022 was a significant portion of the overall $11.2 billion in total premium revenue.

The percent distribution of Medical Assistance and MinnesotaCare market share by premium revenue can be seen in a graph on page 9 of the report.

This graph provides a clear visual representation of how premium revenue was distributed among Medical Assistance and MinnesotaCare, giving us a better understanding of their relative importance in the market.

Here's a breakdown of the market share:

The Minnesota Healthcare Consortium is a notable example of a healthcare provider. Their website is mnhc.gov.

The Consortium is headquartered in Minnesota, United States. They have a relatively small headcount, ranging from 11 to 50 employees.

One of the key services offered by the Consortium is medical spending accounts. They also provide vision coverage and long-term care plans.

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The fully-insured commercial market in Minnesota is a significant sector, and understanding its market share by enrollment is crucial for businesses and policymakers alike.

BCBS of MN was the largest commercial fully-insured payer by enrollment in 2022, covering 908,600 lives as of December 31, 2022.

Their market share varies across the three commercial market segments: individual market, small group market, and large group market.

Here's a breakdown of the market share by enrollment for BCBS of MN in 2022:

Unfortunately, the article section doesn't provide specific market share data for each segment, so we can't include those numbers here.

It's worth noting that the total number of covered lives for all commercial fully-insured payers in 2022 wasn't explicitly stated in the article section. However, we can see that BCBS of MN accounted for a significant portion of that total.

Ratios of TAC/ACL by Type are a crucial metric for understanding the financial health of insurance companies. In Minnesota, the ratios of Total Adjusted Capital over the Authorized Control level were consistently above 200% for all types of insurance companies from 2018 to 2022.

The graph on page 15 of the report shows a clear trend of TAC/ACL ratios exceeding the Company Action Level of 200%. This indicates that Minnesota-domiciled insurance companies have maintained a strong financial position during this period.

For those interested in the specifics, the graph breaks down the TAC/ACL ratios by type of insurance company. Here's a summary of the types of insurance companies included:

These types of insurance companies all demonstrated a strong financial position, with TAC/ACL ratios above 200% from 2018 to 2022.

If you're looking for alternative health insurance options in Minnesota, there are a few plans to consider.

UnitedHealthcare offers a range of plans, including the Optimum Plan, which has a low monthly premium but higher out-of-pocket costs.

The Medica Essential Plan is another option, with lower premiums but higher deductibles.