Minnesota Department of Commerce

Recent Articles

Top five things you need to know about money

By Mike Rothman and Darryl Dahlheimer

Contributing Writers

 

According to the 2012 Financial Capability study, a majority of adults do not have adequate savings in the event of a financial emergency or to meet long-term goals such as college or financial security in retirement. The Minnesota Department of Commerce is providing tips to Minnesotans to help them protect their finances and gain control of their money. “Financial products are becoming more complex, making financial decisions that much harder for consumers,” said Commissioner Mike Rothman. “The Commerce Department is here to help Minnesotans make smart decisions for a secure financial life.”

Commissioner Rothman is launching a financial literacy blog, “Commerce Sense,” that will feature tips and guidance on financial literacy and highlight scams and pitfalls to avoid. Darryl Dahlheimer, a program director for Lutheran Social Services Financial Counseling, joins Commissioner Rothman in offering the top five tips to help Minnesotans concerning their finances. Continue Reading →

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MNsure offers lowest health insurance rates in U.S.

The Minnesota Department of Commerce has determined that Minnesota’s rates for health insurance policies available through MNsure, the state’s health insurance marketplace, starting October 1, are confirmed as the lowest rates compared with the other states that have released rates including the District of Columbia – across all metal levels. The analysis conducted by the Commerce Department used data released by the U.S. Department of Health and Human Services (HHS) comparing the statewide averages for health insurance rates for the 36 states with federal health insurance marketplaces. Minnesota retained its ranking as offering the lowest average health insurance rates in the United States. “Any way you look at it, Minnesota’s long history of health reform, including Commerce’s rate review process, has truly benefited our state’s consumers,” said Commerce Commissioner Mike Rothman. “Having the lowest rates in the country provides Minnesotans with more options, greater access, and more value for their money.”

The premium rates approved by the Commerce Department are 20 to 43 percent lower than our neighboring states: Iowa’s average bronze plan rate for a 27 year-old is $139, North Dakota is $185, Wisconsin is $189, and South Dakota is $196 per month for a bronze plan purchased by a 27 year-old. Continue Reading →

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