SF565

Senate Bill SF No 565 is a legislative proposal from Minnesota that requires the Commissioner of Commerce to cover the additional costs that health plan companies may incur if they are mandated to add new benefits to their plans. Specifically, if an evaluation of a new health benefit proposal finds that it will increase costs for health plan members, and the proposal becomes law, then the Commissioner must make payments to the health plan providers. These payments aim to help cover the increased costs stemming from the new mandated benefits in the individual, small group, and large group markets. Additionally, the bill expects payments to be made within 60 days of the Commissioner receiving a cost statement from the health plan company.