Minnesota Health Care Access Fund Overview and Financial Trends
Explore the details of the Minnesota Health Care Access Fund, including its balance, revenues, tax revenue history, expenditures, and the impact of a tax sunset driving a significant deficit. Gain insights into fund management and financial challenges.
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Health Care Access Fund Overview Ahna Minge, Executive Budget Officer Minnesota Management and Budget | mn.gov/mmb 1
Health Care Access Fund Balance Fund Balance ($ millions) 691 667 591 48 -456 -969 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 Minnesota Management and Budget | mn.gov/mmb 2
Health Care Access Fund Revenues Current Biennium and Budget Years Provider Tax Premium Tax MinnesotaCare Premiums Transfer from General Fund Other $63 M, 4% $50 M, 3% $74 M, 4% $205 M, 11% $54 M, 4% $7 M, 1% $79 M, 9% $1,317 M, 80% $221 M, 25% $458 M, 61% FY 2018-19 FY 2020-21 Source: Health Care Access Fund Statement, End of Session 2018, Minnesota Management and Budget Minnesota Management and Budget | mn.gov/mmb 3
Health Care Access Fund Tax Revenue Over Time 2% Provider Tax 1% HMO Gross Premiums Tax 700 600 $ in millions 500 400 300 200 100 0 Fiscal Year *During the first half of FY 2004: (1) there was no 1% HMO gross premiums tax; (2) the provider tax rate was only 1.5%; and (3) state health programs were exempt from the provider tax. Source: SWIFT Actuals, Health Care Access Fund Statement, End of Session 2018, Minnesota Management and Budget Minnesota Management and Budget | mn.gov/mmb 4
Health Care Access Fund Expenditures Current Biennium Reinsurance, $401 million, 23% All Other, $8 million, 1% MinnesotaCare - State Appropriation, $32 million, 2% Transfer to GF, $244 million, 14% MinnesotaCare - Enrollee Premiums, $74 million, 4% MDH Grant Program, $77 million, 4% DHS Operations, $96 million, 5% Medical Assistance, $824 million, 47% Minnesota Management and Budget | mn.gov/mmb 5
Tax Sunset Drives $969 Million Deficit in Health Care Access Fund Health Care Access Fund Sources and Uses $ millions 1,400 Provider Tax Sunset December 31, 2019 1,200 1,000 800 Uses 600 400 Sources 200 - FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23
