Michigan Healthcare Rates to Increase in 2016
Individual health insurance prices in Michigan to rise 6.5 percent on average; Affordable Care Act affecting pricing.
Healthcare prices are on the rise in Michigan. State officials say an average hike of 6.5 percent on individual healthcare policies goes into effect on January 1st. Andrea Miller is the Public Information Officer for the Department of Insurance and Financial Services. She says Michigan will experience lower rate increases compared to other states.
“We’re different in the fact that we’re ensuring rates are adequate but not too excessive and that makes it critical to make sure consumers not only receive health insurance coverage at a reasonable price but can count on the coverage they’ve purchased.”
Andrea Miller, Department of Insurance and Financial Services
Miller says the rate change affects about 900,000 policyholders. Healthcare rates for the state’s largest insurer, Blue Cross Blue Shield of Michigan, will increase by 11.4 percent.
