Affordable Health Insurance in Michigan

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Best Michigan Health/Medical Insurance Plans

Michigan is nicknamed as The Great Lake State because it is surrounded by 4 Great Lakes and is known for its extensive freshwater coastline.

Michigan is also known as the car capital and the cereal capital of the world. Though, the residents of this state are fairly healthy but there is always room for improvement, as the state is at 29th spot in the national health rankings. Michigan residents tend to keep their focus on staying active and eating right, which is indeed a good job but they should keep in mind that these only accounts for half the battle and rest can be ensured with having best health insurance plans, as it also plays a key role in the overall health of the population.

Michigan is involved in a state federal partnership exchange and it oversees plan management, although residents use Healthcare.gov for enrollment. There are nine insurance companies operating in this state with Oscar being the new company joining the Michigan health insurance market. All the areas of the state have more than three insurers offering coverage in the year 2019.

Highlights and Updates

  • Michigan pursue a state-federal partnership exchange instead of state-based exchange, where the state handles health plans management and Healthcare.gov is used for enrollment.
  • Open enrollment run from November 1 to December 15, 2019, outside this window, enrollment is only possible for residents having qualifying events.
  • In Michigan nine insurers are offering coverage for 2019, and all of them will continue to offer coverage in 2020.
  • During the last open enrollment period around 274,000 Michiganders enrolled in health plans.
  • Short term health plans are available in Michigan with initial plan terms of up to 185 days.
  • After a modest rate hike in 2019, insurers in Michigan have proposed an overall rate decrease of about 2.5% in 2020.
  • More than 2 million people in Michigan are covered under Medicare.

Individual and Family Plans

The health insurance landscape of Michigan offers diverse avenues to its residents as far as shopping for Individuals and families health plans are concerned. Residents who do not have access to employer-sponsored coverage can either shop through private marketplace or through federal marketplace exchange. Individual and family health insurance plans are purchased by the residents either for themselves or for their families. Even if the residents are receiving some sort of benefits or coverage from their employer then also individual plans may prove the right option. With so many options available for the Michiganders in Individual and Family health insurance, they are empowered to find a plan that best suit their specific health care needs

Some of the common types of Individual and Family health insurance plans available in Michigan:

HMO

HMO plans offer a wide range of healthcare services through a network of healthcare providers who agree to render medical services to the members of the plan. All the plan members need to choose a primary care physician who take well care of their healthcare needs and also provide them a referral in case if they need to visit a specialist. The HMO plans also allow members to have lower out-of-pocket cost and they do not require to pay a deductible before the start of the coverage and have minimal co-payments. The members of the HMO plan do not have to submit their claim to the insurance company, as the claims are submitted by the healthcare provider. Members of this plan need to keep in mind that they will not be covered for services rendered by out-of-network healthcare providers or for services obtained without a proper referral from their Primary Care Physician.

PPO Plans

PPO are the popular Individual and Family plans that allow its members to visit any of the in-network physician without requiring a referral from their primary care physician. Although the members of the PPO plans are encouraged to visit insurance company’s network of doctors but they do not need to choose a primary care physician. In PPO plans the in-network healthcare services are covered at a higher benefit level compared to out-of-network services. PPO plan usually has a large network of participating providers thereby offering its members a range of doctors and hospitals to choose from. In PPO plan members can receive medical care outside the network but those services are covered at a higher cost and they need to submit claim by themselves and they also need to meet a separate out-of-network deductible. This plan also includes global emergency and urgent care coverage that is offered 24 hours a say and seven days a week.

Health Savings Account

It is a type of saving account that allows individuals save money on a pre-tax basis, which they can use to pay for qualified medical expenses. Individuals can use this amount to pay deductibles, copayments, coinsurance along with some other expenses that help them lower their overall health care costs. Though, this amount may not be used to pay health plan premiums. Individuals having High Deductible Health Plans in 2020 can contribute up to $3550 for self-only coverage and up to $7,100 for family coverage into an HSA. The funds in this account roll over year to year if it is not used and it may also earn interest that are not taxable.

Fee-For-Service Plans

fee-For-Service or Indemnity plan is a traditional type of insurance in which the plan either pay the healthcare provider directly or reimburse the member after they filed an insurance claim for the covered medical expenses. Though expensive, Fee-For-Service plan provides complete independence and flexibility to its members and aloow them to freely choose their hospitals and physicians with quite a little interference from the insurance company. This plan demands high out-of-pocket expenses as members are required to pay medical fees up front and later on submit bills for reimbursing the amount.

Short-term health insurance in Michigan

Short term health insurance plan is mainly designed to bridge gaps of health care coverage during times of transition and these plans make sense for Michigan residents if they are between jobs and are waiting for benefits to begin at a new job. Short-term plans are also idea for residents who are without health insurance and have missed Open Enrollment or if they are waiting for their Affordable Care Act coverage to begin. These plans are also perfect for individuals under 65 and in good health or individuals who are waiting for Medicare coverage. Michigan regulations have limit short-term health insurance plans, as the plan cannot be available for more than 185 days from a single insurer in a year.

Dental Plans in Michigan

A number of studies have revealed that good dental hygiene and proper oral care is essential for the overall health of the people, so residents of Michigan should have dental insurance plan, which will help them afford regular cleanings and critical dental care for themselves and their families. Most of the dental plans available in this state provide coverage for routine cleanings at no extra charge and some plans allow members to choose the dentist of their choice for obtaining dental care for themselves and their families.

FAQ on Michigan Health Insurance

The Affordable Care Act came with the individual mandate provision according to which people were required to obtain health insurance or else pay a federal tax penalty. However, most of the U.S. states have removed this individual mandate penalty, and so people not having individual plans no longer require to pay penalties. A few of the states have passed their own health insurance requirements but Michigan is not of those states, though residents of the state are required to report their coverage status on their federal tax return, but they don’t have to pay a penalty if they are not covered.

Open enrollment for 2021 health plans in Michigan is November 1 to December 15, 2020, during which residents of the state can enroll in an individual health plan of their choice. Outside the open enrollment period, only residents with qualifying events are able to enroll in a health plan. Michigan residents who miss enrolling in a health plan during the open enrollment period will have to wait for the next enrollment period that will come after a year to enroll in a health plan. People have an opportunity to renew or change an existing plan for the coming year, or can enroll in a new individual plan.

Yes, short-term health plans are available in the state and as per the Michigan regulations, short-term health plans are not available for more than 185 days in duration. Residents enrolling in short-term plans are not allowed to renew their plans after their initial duration. Thus, individuals can purchase short-term plans, but not more than 185 days of short-term health insurance coverage from an insurer in any 365 days period.

The average cost of health insurance in Michigan for 2020 is $416 per month, which is a 3% decrease from the previous year. To find the cheap and affordable health plan in Michigan, you will need to compare and evaluate different plans available in your county. However, the price of the plan will depend on the county in which you live and the type of coverage you want to have in your plan. After comparing and evaluating different health plans in Michigan, the cheapest and affordable health plan was either the MyPriority HMO Silver 3200 or the Meridian Healthy Silver in the majority of the counties. The Silver plans offered by Total Health Care USA and Physicians Health were the most affordable plans in the counties where they were available.

After comparing different health plans by metal-tier in Michigan, the cheapest plan available for each metal-tier were discovered as follows:

  1. The cheapest Catastrophic health plan in the state for a 40-year old is Blue Cross® Select HMO Value plan having a monthly premium of $201.
  2. The cheapest Bronze health plan in the state for a 40-year old is the Total Saver Plus plan having a monthly premium of $225.
  3. The cheapest Expanded Bronze health plan in the state for a 40-year old is the Meridian Healthy Bronze plan having a monthly premium of $221.
  4. The cheapest Silver health plan in the state for a 40-year old is Meridian Healthy Silver plan having a monthly premium of $307.
  5. The cheapest Gold health plan in the state for a 40-year old is the Meridian Base Gold plan having a monthly premium of $336.
  6. The cheapest Platinum health plan in the state for a 40-year old is the Sparrow PHP Platinum 500 Exclusive plan having a monthly premium of $544.
Currently, there are nine health insurance carriers offering health plans in Michigan in 2020:

  1. Blue Cross Blue Shield of Michigan Mutual Insurance Co.
  2. Priority Health
  3. McLaren Health Plan Community
  4. Blue Care Network of Michigan
  5. Meridian Health Plan of Michigan Inc.
  6. Physicians Health Plan
  7. Total Health Care USA Inc.
  8. Molina Healthcare of Michigan Inc.
  9. Oscar Insurance Co.

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