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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

The author is paid for product endorsements and has an ownership or other financial interest in the businesses related to the topics covered.

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Availibility of Basic Health Insurance

originally posted: 11/22/2006 revised: 2/4/2011

Q: Why is Basic Health Insurance not available in Minnesota?

A: Every insurance product available to the public must be individually approved by the insurance department in each state. Many people are startled to learn that an insurance policy like "Basic Health Insurance" that is so highly valued by people in so many states cannot be purchased because their own state government has not approved this specific health insurance policy. Insurance is a highly fragmented state-controlled industry with 50 separate sets of rules and procedures. Some people argue that health insurance is too important to be left up to individual states and that a national health insurance policy is needed. This seems unlikely in the near future.

A listing of low cost health insurance policies on a state-by-state basis can be found on the Freedom Benefits insurance excahnge. Just click the link for the state in which you reside. In most states, Value Access Guarantee is a likely substitute for Basic Health Insurance. Unfortunately, there are fewer lost cost health plans in Minnesota each year due to recent positions taken the state insurance department. Minnesota is not likely to allow this plan or any of the other low cost health insurance options that are most commonly used in other states. You may want to read the article "Availability of Basic Health Insurance" at that covers this topic in more details.


In states where the "Basic Health Insurance" product is not available, look for similar alternatives on the health insurance excahnge.

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