Michigan Health Insurance Market Annual Update
Annual Michigan Health Insurance Market Update
The following contains information for our NAHP Alternative Health Plan Solutions and ACA/Obamacare plans for individuals and small businesses in the state of Michigan.
Michigan Alternative Health Plan Solutions Updates
NEW OPTION: As I mentioned in my Federal market update, I have recently come across a set of health plans that will work well for certain people in Michigan. These plans are comprehensive coverage and compliant with ACA/Obamacare mandates. They also utilize a nationwide PPO network, so they offer a much better choice of providers than most ACA/Obamacare plans. All plans have a maximum out of pocket limit that will be $2,100 per year LESS than the maximum out of pocket for 2024 ACA/Obamacare plans. The standard rates for these plans are competitive with the full price without a subsidy on current, similar ACA/Obamacare plans for people in the 45-64 age range who do not qualify for a tax credit subsidy to purchase ACA/Obamacare plans. If you fit this criterion, please reach out to me to see if one of these plans might be a better option for you.
IMPORTANT NOTE: All non-ACA/Obamacare alternative plans are available year-round. For both individuals and small groups. There is NO limited (open enrollment) period for these options.
Health Insurance Buffet – Individual Alternative Plans
For those who don’t qualify for a tax credit subsidy to help pay for an ACA/Obamacare plan, we have a solid “health insurance buffet” of alternative plans in Michigan.
Our Primary Fixed Benefit lineup has improved. We now offer the following:
Manhattan Life – Their newest and best fixed benefit plan – Affordable Choice Enhanced Fixed Benefit Plan. NOTE: The Affordable Choice plans have the BEST inpatient hospital coverage of any fixed benefit plan available today. They have also significantly upgraded their overall coverage.
Philadelphia American – Their newest and best fixed benefit plan – Health Saver Plus Gold. NOTE: The HSP Gold plan offers the BEST overall coverage of any fixed benefit plan in the market.
As noted on our Michigan state page, our other Primary plan option – Short Term Medical (STM) plans are limited by state law to duration’s of no more than 180 days per policy. Because of this we aren’t recommending that they be used in our alternative plan packages at this time. However, we do offer the following STM plan companies:
National General – Includes their best, updated STM plans with multiple deductible/coinsurance options. Includes the Aetna nationwide PPO networks.
IHC Group – Includes their best, updated STM plans with multiple deductible/coinsurance options.
United Healthcare – Also offers multiple STM plans.
Pivot Health – Includes two of their updated STM plans that include the choice of traditional PPO and unique “No Network” plans.
Our Supplemental Plan lineup has also expanded and improved:
REMINDER NOTE: All these supplemental plans pay in addition to ANY other coverage you have. So, they are NOT just for our alternative “buffet” plans. They can reduce/eliminate out of pocket costs (plus provide additional cash for bills and other costs) of ANY primary health plan (group, individual, Medicare, etc.)
Accident Plans – In addition to accident supplemental plans from all our Primary plan companies (above), we offer separate LifeSecure Accident plans.
Critical Illness Plans – Again, along with plans from all our Primary plan companies, we offer separate LifeSecure Critical Illness plans.
Cancer and Dread Disease Treatment – This is my favorite addition to our supplemental plans. Manhattan Life Cancer Care Plus Cancer and Dread Disease treatment plans. For those who choose one of Philadelphia American’s Fixed Benefit plans, their new Specified Disease plan is the preferred option for getting maximum coverage for Cancer and other Dread Diseases.
First Day Hospital Stay Protection – Along with plans from most of our Primary plan companies, Manhattan Life Out of Pocket Protection Plan is my favorite to include with whatever primary health plan YOU have. That includes employer group plans, Medicare, etc.
Preventive Care Plus Plans – For those who want the MOST comprehensive coverage for preventive care plus other outpatient services, we offer the Enrollment First SelectMed plans.
More information on all plans above can be found on each company’s page on our website and on our US Supplemental Coverage page.
NOTE: You can also combine one of the above Fixed Benefit plans together with Accident, Critical Illness, Cancer Treatment, Hospital Indemnity and Preventive Care (Plus) plans and create a comprehensive plan that will still be at least 15-20% LESS than a high deductible ACA/Obamacare plan!
Small Group Alternative Plans
In addition to the companies we already have (Allstate Benefits, Allied National, and Trustmark), we have added several new companies. Plus two other companies that has previously provided only fully insured plans to small businesses…United Healthcare .and Aetna.
All the above options provide cost-saving, level funded alternative group health plans. Level funded plans can be a BETTER option for many businesses than the “one size fits all” ACA/Obamacare small group health insurance plans. Level Funded plans can provide upfront savings of 10-20%, the same fixed monthly premium as fully insured and the potential for a refund at the end of the plan year. All while providing the same or better coverage as you are used to with a fully insured plan.
If you own, or work for a business with 5 to 50 employees covered on a “traditional,” fully insured group health plan, and believe the covered group members to be reasonably healthy overall, then it might be time for your company to explore a level funded plan.
To get quotes on a level funded group health plan, please schedule a call with us to review your situation. We will also need you to fill out our Group Census spreadsheet and email it to: robtavis@ushealthinsurancesolutions.com.
Michigan 2024 ACA/Obamacare Health Insurance Market Updates
Individual Plans
For 2023 coverage, there are ten insurers that offer exchange plans in Michigan. And all ten of them will continue to offer coverage in 2024. US Health and Life is decreasing their Ascension Personalized Care plans into fewer counties in Michigan
The participating insurance companies are proposing average rate increase from just under 4% to nearly 19% for plans in 2024.
In Michigan, the 2024 Open enrollment begins on November 1, 2023 and ends on January 15, 2024. A health plan must be purchased by December 15, 2023 to have coverage effective January 1, 2024. Plan purchases from December 16, 2023 to January 15, 2024 will start on February 1, 2024.
Small Group Plans
As with many states there is not much “new” to report with ACA/Obamacare small group plans in Michigan.
Michigan 2024 ACA/Obamacare Rate review:
Michigan 2024 Preliminary Rate review:
NOTE: Final approved rates are not readily available at the time of this writing. We will do our best to update this page with the approved rates as soon as we can.
Michigan preliminary 2024 individual plan rate filing requests are as follows:
Alliance Health and Life Insurance Company – requested an average increase of 14.8% varying by plan (not finalized yet)
Blue Cross Blue Shield of MI – requested an average increase range of a 4.01% to 5.36% varying by plan and network (not finalized yet)
Health Alliance Plan (HAP) – requested an average increase of 12.31% change varying by plan and network (not finalized yet)
McLaren Health – requested an average increase of 16.17% change varying by plan and network (not finalized yet)
Meridian (Ambetter) Health Plan – requested an average increase of 5.18% varying by plan (not finalized yet)
Molina Healthcare – requested an average increase of 5.82% varying by plan (not finalized yet)
Oscar Health Plan – requested an average increase of 3.91% varying by plan (not finalized yet)
Physicians Health Plan – requested an average increase of 7.15% varying by plan (not finalized yet)
Priority Health – requested an average increase of 5.24% varying by plan (not finalized yet)
United Healthcare – requested an average increase range of 6.44% varying by plan (not finalized yet)
US Health and Life – requested an average increase of 18.96% varying by plan and network (not finalized yet)
Michigan small group market rate filing requests look like this
Alliance Health and Life – requested an average increase of 12.12% varying by plan and network (not finalized yet)
Blue Cross Blue Shield of MI – requested an average increase range of 5.84% to 6.71% varying by plan and network (not finalized yet)
Health Alliance Plan (HAP) – requested an average increase of 11.12% varying by plan and network (not finalized yet)
Paramount Insurance Co – requested an average increase range of 4.47% to 6.99% varying by plan (not finalized yet)
Physicians Health Plan – requested an average increase of 10.37% varying by plan (not finalized yet)
Priority Health – requested an average increase range of 6.32% to 6.66% varying by plan and network (not finalized yet)
United Healthcare – requested an average increase range of 8.97% to 11.53% varying by plan and network (not finalized yet)
Michigan 2023 ACA/Obamacare Approved Rates:
Michigan individual plan approved rate filings are as follows:
Alliance Health and Life Insurance Company – Received an average decrease of % varying by plan
Blue Cross Blue Shield of MI – Received an average increase range of % to % varying by plan and network
Health Alliance Plan (HAP) – Received an average decrease of % change varying by plan and network
Meridian (Ambetter) Health Plan – Received an average decrease of % varying by plan
Molina Healthcare – Received an average increase of % varying by plan
Oscar Health Plan – Received an average increase of % varying by plan
Physicians Health Plan – Received an average increase of % varying by plan
Priority Health – Received an average decrease of % varying by plan
Michigan small group market approved rate filings look like this:
Alliance Health and Life – Received an average decrease of % varying by plan and network
Blue Cross Blue Shield of MI – Received an average increase range of % to % varying by plan and network
Health Alliance Plan (HAP) – Received an average decrease of % varying by plan and network
Humana – Received an average increase of % varying by plan
Paramount Insurance Co – Received an average increase of % varying by plan
Physicians Health Plan – Received an average decrease of % varying by plan
Priority Health – Received an average increase range of % to % varying by plan and network
United Healthcare – Received an average increase range of % to %varying by plan (not finalized yet)
US Healthcare Resources and Shopping Services
I invite you to go to my US Healthcare Resources page and spend some time going through all of the different tools, services and providers that are available to help you become a better health care consumer. I believe these resources can help you lower your overall health care costs no matter what primary health insurance you have.
U.S. Insurance Solutionsis here to help
Remember, you are NOT in this alone…I am here to help! As your Personal Health Insurance Advisor, my goal is to make your life easier by taking the hassle out of finding the right health plan for your situation and needs.
To discuss your health insurance options and make sure you have the best possible health plan for your situation, please go to the link above with the image that says CALL ME and schedule a call with me on a day and time that works for you, and I will call you to review your options.