Many Michigan health insurance carriers propose higher rates
Sixteen of the 21 health insurance carriers in Michigan are asking for permission to increase their rates for individual polices next year.
For example, Blue Cross Blue Shield of Michigan is asking for an increase of 11.3 percent and Blue Care Network of Michigan wants a 9.7 percent increase.
The public can submit comments until July 1 on the proposed changes to HealthRateComments@michigan.gov.
Andrea Miller is with the Michigan Department of Insurance and Financial Services.
She says that the department must review and approve the rate changes.
"Our department is committed to transparency in the rate review process," Miller said. "As we conduct our review, we look forward to receiving the comments from consumers and businesses alike."
She also says that consumers should be aware that rate changes are an average percent change across all plans within a product, an increase or decrease does not reflect how a health insurer’s premiums compare to others and individuals who receive a tax credit that covers a portion of their premium will experience rate changes that differ due to the tax credit calculation.
Proposed changes to small group policies can be viewed as well.