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M.S.A. § 62V.03 (Minnesota Insurance Marketplace; establishment)

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Minnesota Insurance Marketplace; establishment

The law establishes the Minnesota Insurance Marketplace as a state agency governed by a six member board.  The purpose of the Marketplace is to:

  • Promote informed consumer choice, innovation, quality, and meaningful choice of health plans;
  • Facilitate and simplify the comparison, choice, enrollment, and purchase of health plans for individuals and small businesses;
  • Assist small employers access small business tax credits and assist individuals access public programs, premium tax credits and cost sharing reductions;
  • Facilitate the transition of individuals between public programs and individual health care coverage;
  • Establish a name and brand for the Marketplace.

The Marketplace will be audited annually by a legislative auditor, who may make recommendations to prevent the duplication of services.  Board meetings must be open to the public, but may be held in closed sessions under certain circumstances.  

Current as of June 2015