America’s Premier Health Insurance Agency
2021 Michigan Health Insurance
It may be tempting to put off buying health insurance, especially if you rarely come down with colds, but 2020 has taught us something important. Health insurance is vital to your overall well-being. Getting tested for viruses and receiving care is covered by a major medical plan, but if you don’t have coverage, you could be denied something even as simple as a PCR test.
Don’t let sudden medical expenses put you into debt, and don’t let a lack of insurance keep you from getting medical aid! Open enrollment begins soon. But before you start searching for rates, there are some things about Michigan’s major medical plans you need to know.
Types of Health Plans
Insurance companies have several plans available. Every plan has a specific type of network in which you can receive care. Within the networks are healthcare providers who have agreed to work together so you receive care at a reduced rate:
The cheapest but most restrictive. You must visit providers within the network to be covered by insurance and also need to select a primary care physician (PCP) who coordinates with other specialists and facilities. You must get referrals.
More flexible and pricier than an HMO is the PPO. You don’t need to choose a primary care provider, nor are referrals required. You can visit whomever you like, but going out of network will cost you more than staying in-network.
A fusion of HMO and PPO, point of sale refers to getting charged whenever you use a service. You still need an in-network PCP, but you can visit specialists both in and out of network. Costs are generally higher out of network.
Similar to a PPO, you need neither a PCP nor a referral. However, if you visit doctors out of your network, you pay the full price.
(Want more information? Check out a more in-depth comparison between HMO vs. PPO.)
The best way to see which tier and plan is best for you and your family is to compare Michigan health plans side by side. That way, you can see what benefits are included and at what cost. Get started today!
Why You Should Have Michigan Medical Insurance
Being uninsured or even under-insured is risky business. Even if you are young and healthy, accidents are unpredictable. You could contract a virus, for example, and suddenly be hospitalized. Without insurance, the quality of your care will be less than that of someone with the appropriate amount of coverage. Having Michigan health insurance means having protection from the outrageous cost of healthcare and the chance of bankruptcy caused by medical expenses.
Moreover, enrolling into Michigan medical insurance that is compliant with Obamacare regulations has additional advantages. All policies that can be purchased through the federal insurance exchange come with essential health benefits of which you cannot be denied.
Those benefits include:
Every state will have its own standard for the essential health benefits, but every ACA-regulated health plan is going to contain these benefits. Some individual health plans will also include things like breastfeeding and birth control services for women. Keep in mind that there are some things, like plastic surgery, that will not be covered unless it can be proven essential to your health.
Consider what kind of benefits you want and need as well as your current condition when you begin shopping for 2021 health insurance quotes.
Short Term Health Insurance
Buying a short term health plan in Michigan is a little different than other states. Short plans are limited to 185-day terms, and renewals are strictly prohibited. Additional short term health insurance can be purchased, but you cannot have more than 185 days in a single year from one insurer.
Furthermore, an insurer selling on the individual market cannot receive more than 10 percent of its market premiums from short term plans. For the consumer, this could mean that 2020, 2021 and beyond may have fewer short term health insurance options, due to the global pandemic.
Presently, five insurers are offering short term medical plans.
What You Need To Know About Michigan Health Insurance
Here is a bit of good news in terms of the cost of coverage. Premiums increased by 1.7 percent for 2019, but those rates dropped 2.5 percent for 2020. It is estimated that the cost of medical insurance will continue to drop for 2021. Enrollment has dropped slightly, but that may pick up again now that health insurance has become more beneficial than ever before.
Michigan offers six levels of medical coverage: Catastrophic, Bronze, Expanded Bronze, Silver, Gold, and Platinum. As you may already know, bronze is the cheapest (excluding catastrophic), and gold and platinum are the most expensive in terms of premiums. Bronze has higher deductibles than gold and platinum. Moreover, bronze is ideal for those who do not need continuous medical care, while pricier options are perfect for people who have multiple medical conditions.
The average monthly premiums for the different tiers depend mostly on your age. A catastrophic plan is around $217/month for a 21 year old and $277/month for a 40 year old. Bronze costs $264/month for a 21 year old, $338/month for a 40 year old, and $718 for a 60 year old. Expanded bronze costs around the same. Silver plans run around $350 for a 21 year old, $450 for a 40 year old, and $960 for a 60 year old. Gold costs a 21 year old $430 per month, while a 40 year old pays $550, and a 60 year old pays $1,167.
Family health insurance in Michigan is determined by the number of people and their age. Young children (up to 15 years old) are charged a flat fee, while rates for older children and spouses increase with age. In other words, if you and your spouse are on a Silver plan and you have a child, the cost increases by an estimated $270. If you add your partner to your Silver plan, however, the cost is merely doubled.
You can learn more about how health insurance works in Michigan by visiting the state’s Department of Insurance and Financial Services.
Unemployed, Part-Time, and Self-Employed
When you are unemployed, the last thing you want to worry about is whether your medical bills are going to be covered. Yet, getting laid off or watching your workplace shutdown permanently in the wake of a catastrophe means you lose your health insurance. Health insurance for unemployed Michigan residents is not limited to COBRA. You have options, such as short term health insurance, catastrophic plans, and even subsidies to make other metal tiers of coverage cheaper.
The same applies to self employed and part-time workers. Health insurance for self employed contractors is the same as individual health insurance—if you have no employees save for yourself. Similarly, part-time employees who cannot be sponsored may be eligible for reduced rates. Be sure to check out your options with bronze level and catastrophic plans, and see if you are eligible for tax deductions or discounts.
Differences Between 2020 Open Enrollment and 2021
Same as last year, there are several insurance companies that have filed to provide qualified health plans on the Marketplace for 2021:
- Blue Cross Blue Shield of Michigan Mutual Insurance Company
- Blue Care Network of Michigan
- Meridian Health Plan of Michigan, Inc.
- McLaren Health Plan Community
- Oscar Insurance Company
- Priority Health
- Molina Healthcare of Michigan, Inc.
- Total Health Care USA, Inc.
- Physicians Health Plan
For three years straight, rates in Michigan are lower than what was estimated. The number of plans available on the Marketplace have also increased. You should have no problem finding Michigan individual health plans for 2021 and beyond.
2021 Michigan open enrollment begins on November 1, 2020 and ends December 15, 2020. Whether you decide to switch insurance providers or stick with the plan you currently have, your coverage for 2021 will begin automatically on January 1, 2021—if you apply during the open enrollment window.
Missing open enrollment isn’t the end. You may be eligible for a special enrollment period (SEP). There are qualifying events that allow you to take advantage of an SEP for up to 60 days from the time of the event. Some events that qualify include losing employment and your sponsored insurance, aging out of a parent’s plan, changing residence, gaining citizenship, adopting a child or childbirth.
Shopping early is the best way to keep to the official deadlines. Also, because of the influence of the global pandemic, some states may have extended deadlines, so keep an eye out.
Keep Yourself and Your Family Protected
For 2021, health insurance is going to be more crucial than ever. Affordable healthcare is available if you know where to look, but you should enroll as soon as possible. The effects of COVID-19 and other health conditions is not going to go away any time soon. Therefore, you should protect you and your family with a major medical plan. Make use of those essential health benefits!
Ready to receive health insurance quotes from ACA-compliant health insurance companies all in one place? All you need is your zip code to compare Michigan health plans today.