ST. PAUL — Gov. Mark Dayton has signed a federal waiver approving a new state program to lower health insurance premiums.

The Democratic governor officially approved Minnesota’s new reinsurance program Monday. State lawmakers devoted $549 million to lower rates for shoppers who buy coverage on their own after years of double-digit increase.

Dayton’s signature means the federal government will also kick in hundreds of millions of dollars to help stabilize rates. But that approval came with unexpected cuts to MinnesotaCare.

The federal government has indicated it will cut $369 million from program for nearly 100,000 low-income residents. Dayton says he and Minnesota’s congressional representatives will continue pushing to reverse those planned cuts.

Dayton says MinnesotaCare won’t be affected in 2018.