BISMARCK – Most healthcare consumers in the individual and small group insurance markets shouldn’t see significant changes to their costs in 2021, according to information released this week by the North Dakota Insurance Department regarding approved rates.

“Amid a global pandemic, the Insurance Department recognizes the importance of affordable, comprehensive and accessible health insurance,” said Insurance Commissioner Jon Godfread. “A vast majority of North Dakotans should see little to no change in the health insurance premiums they are paying from this year to next year. During these uncertain times, we felt it was important to give as much consistency to our consumers as possible, especially when it comes to health insurance.”

The 2021 rates still consider the 20% reduction from last year due to the passage of the state-based reinsurance program. Many of the rate adjustments were made to account for the subsidies that are paid for by the federal government to those individuals who qualify for an income-based advanced premium tax credit. Those consumers who do not receive a subsidy should see minimal changes to their premiums.