Minnesotans who buy health insurance on the individual market will see a sharp increase in premiums next year. 

The Minnesota Department of Commerce announced today that rates for 2026 will rise an average of 21.5% for individual plans and 14.2% for small group plans. Officials say the hikes would have been even steeper without the state’s reinsurance program. 

Without that financial backstop, insurers estimated individual market rates would have surged by 69%. The reinsurance program helps cover high-cost claims, keeping premiums more stable for everyone. Lawmakers extended the program earlier this year. The finalized rates apply to plans sold on MNsure and directly through insurers.