Residents of the Great Lake State have a few options when it comes to health care. According to a study by US News, Michigan has the 32nd best health care in the country. This study looks at access, quality, and good public health.
According to Michigan's Department of Insurance and Financial Services, residents can get health care coverage through several ways:
Where do most Michigan residents get their health insurance coverage?
|Individual or family||5%|
|Source: Kaiser Family Foundation, Health Insurance Coverage of the Total Population|
Around five percent of Michigan residents are uninsured. That's below the national average, which is good news for policyholders. The higher the rate of uninsured people, the more prices jump for insured people.
Michigan residents spend an average of $8,055 per year on health care expenditures. That's only ten dollars above the national average! What determines this price? Providers look at factors that vary person to person to determine your price tag:
It’s a simple equation: the more coverage you want, the more you'll have to pay. Health care marketplace plans come in metal tiers: bronze, silver, gold, and platinum.
These are the average prices for health care for a 40-year-old Michigan resident in 2020:
|Source: Kaiser Family Foundation, Change in Average Marketplace Premiums by Metal Tier|
These numbers show that it costs about 52 percent more for a gold plan than a bronze plan. The price tag increases because gold plans cover 80 percent of health care costs, compared to bronze plans, which cover 60 percent of costs.
A catastrophic plan is an option for people under 30 or with certain exemptions. Catastrophic plans offer low monthly premiums but a high deductible. It offers minimal coverage. For 2020, the deductible for all catastrophic plans is $8,150. A bronze plan costs more monthly but may save you money if you need to use your insurance.
Statistically, a high body mass leads to serious health conditions. Insurers know this and will analyze your BMI to determine your risk-level. A high BMI leads to high insurance rates.
In 2018, Michigan had a 36 percent obesity rate, the 8th highest in the country. Of the Michigan residents who used QuoteWizard to compare health plans, 33 percent of shoppers have a BMI in the obese range.
Due to the substantial health risks caused by smoking, smokers pay more for insurance. 19.3 percent of Michigan residents are smokers, the 14th highest rate in the country.
Age can play a large role in your policy prices. According to HealthCare.gov, older people pay up to three times more in premiums than younger people do. Michigan residents who used QuoteWizard to shop for health insurance are, on average, 41 years old.
Every state has different rules, regulations, and providers in their health care marketplace. Because of this, your location has a big impact on how much you'll be paying in premiums.
Health insurance rates are community rated. Costs are based on the combined claims people in your area file. So, if your neighbors file a high number of claims, your rates may rise.
How health-conscious your state is therefore plays a role in your prices. Living in a healthier state can keep your costs low. According to America's Health Rankings, Michigan is the 35th healthiest state in the US.
Michigan has plenty of provider options for even the pickiest insurance shopper. These companies offer individual and family plans in Michigan:
Your policy options vary based on where in the state you live. Check provider websites to find how your choices.
Thanks to the Affordable Care Act, insurance companies cannot use certain factors when pricing your policy.
There are limits to how much you can pay out-of-pocket for marketplace plans. The out-of-pocket maximum for 2020 is $8,150 for an individual plan and $16,300 for a family plan.
Michigan law requires health insurance companies to provide at least some coverage for the following services:
That’s only part of what Michigan insurers must cover. Find the entire list here.
Medicare and Medicaid are government-funded programs that help people access affordable health care. Medicare aids seniors, and Medicaid helps low-income families and children.
Residents over 65 are eligible for Medicare. According to the Michigan Department of Health and Human Services, you may be able to get help with some Medicare costs. Depending on your income, you may qualify for help with:
Check the Medicare Savings Program brochure to find out if you qualify for savings.
Here are Michigan’s Medicaid income requirements:
|Household Size||Maximum Yearly Income|
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