Last Updated on September 22, 2020 by Andrew Lee
Many of the other states in the country noticed surprisingly – even shockingly high rate increases during the 2017 open enrolment. However, residents of Michigan fared better, seeing as the increase in the state’s health insurance rates was much lower than the national average of 25%. Continue reading to equip yourself with the knowledge of how the health coverage in the state now looks.
Health ratings have a lot to do with insurance costs
Aside from your health, insurers also base your rates on the overall health performance of the state you live in. And while MI had one of the lowest rate increases in the country, it could offer even better premiums to its residents when it improves its health ratings. Take a look at how it performed in The Commonwealth Fund’s 2015 State Health System Performance.
Although it only ranked 31st of 50 states and the District of Columbia, it received a quintile of 2 in both the “Access” and the “Prevention & Treatment” indicators. It scored 3 for Avoidable Hospital Use & Costs and Equity. Here are some notable findings from the “Healthy Lives” category, where it also received a scorecard of 3:
- Mortality amenable to healthcare: 91 out of 100,000 people
- Breast cancer fatalities: 21.2 out of 100,000 women
- Colorectal cancer fatalities: 14.8 out of 100,000 individuals
- Percentage of adult smokers: 21%
- Adult obesity: 30%
- Obesity in children aged 10-17: 33%
Here are some statistical comparisons relating to health insurance access in the state:
- 12% of adults (19 to 64 years old) don’t have insurance, compared with the national average of 15
- 4% of children (infants to 18 years old) are uninsured, as opposed to the countrywide average of 6%
- 15% of the adult population chose not to obtain insurance due to the high costs associated with it (the same with the US average)
- 15% of adults had expensive out-of-pocket medical bills, 2% higher than the national average of 16%
How much you can expect to pay and the reimbursements you’ll receive
Your specific choice in a metal tier dictates the percentage of medical costs you’ll pay out-of-pocket and the portion your insurer will reimburse. Of the four plans available, the platinum tier offers the greatest coverage. However, silver plans remain the most popular.
The following are the coverage levels you can choose from and the corresponding portion your provider will cover:
Bronze – 60%
Silver – 70%
Gold – 80%
Platinum – 90%
The United States Department of Health & Human Services also provided the following premium averages for 2017 in Alabama:
The significant drop in its uninsured rating
One of the major factors that contributed to the lower-than-national rate increase average is the state’s low uninsured rating.
According to the U.S. Department of Health & Human Services, The Great Lakes State, with an estimated population of 9,922,576 (2015, latest data), saw a 6.3% decrease in its uninsured rating in 2015 from the 12.4% count back in 2010. In other words, 618,000 of its residents who went on without coverage became insured.
There are several other changes though that you should know of, as this’ll help you obtain coverage that fits your budget, and more importantly, your health needs.