You may have heard the news that open enrollment periods have begun. If you don’t have health insurance coverage, it’s your responsibility to purchase it in the United States. Going without can prove disastrous.
However, you might encounter considerable confusion when applying for a policy. What type do you need, and what level? Here’s what you need to know about affordable health insurance in Michigan.
Do You Need a Short-Term or Marketplace Policy?
When searching for affordable health insurance in Michigan, it’s crucial to understand the difference between short-term care policies and Marketplace coverage. While short-term policies may entice you with lower premiums, they aren’t offered on the Marketplace because they lack the benefits their Marketplace cousins must contain.
For example, short-term policies often omit coverage for maternity care and mental health. If you plan on starting a family, you could end up with a monster postnatal hospital bill.
Additionally, many such plans only last for six months — after which time, everything resets. Even if you could manage an $8,000 deductible once a year, $16,000 could prove too costly. Many policies only allow you to renew for one year, although some go as long as three. After that time, you must switch to different coverage, which may mean losing your doctors.
Your Marketplace Options for Affordable Health Insurance in Michigan
If you decide to look to the Marketplace in your search for affordable health insurance in Michigan, you have 30 plans to choose from among three companies.
The McLaren Bronze 6500 plan costs $243.65 a month and features a $6,500 deductible and $8,500 out-of-pocket maximum. Generic drugs are $30. ER visits, primary visits, and specialists all have a 50% coinsurance after deductible. The plan does not include dental coverage.
The McLaren Silver Exchange plan costs $371.81 monthly. It has a $3,700 deductible and an $8,150 out-of-pocket maximum. Primary visits cost $30 and generic drugs cost $10. There is a $65 copay for specialists after deductible and 20% coinsurance for ER visits. The plan does not include dental.
The BlueCross Premier PPO Bronze Saver costs $327.29 a month. It has an $8,500 deductible and out-of-pocket max. There is no charge after deductible for generic drugs, primary and specialist visits, and ER care. It does not include dental.
The BlueCross Preferred HMO Silver costs $465.83 a month. It has a $3,000 annual deductible and $8,500 out-of-pocket max. Primary visits cost $30, and there is a $50 copay for specialists after deductible. Generic drugs are $4 after deductible and there’s a $250 copay for ER visits.
The MyPriority HMO Bronze 8550 with Telehealth PCP costs $267.20 a month. It features an $8,550 annual deductible and out-of-pocket max. Generic drugs cost $5 and primary visits cost $30 after deductible. However, there’s no charge for ER or specialist care.
The MyPriority 2400 50+ features a $2,400 annual deductible and $8,550 out-of-pocket max. It costs $411.45 a month. Generic drugs cost $5, and primary visits are $30. There is a $45 copay for specialists after deductible. ER visits have a $250 copay and 30% coinsurance after deductible.
Your Short-Term Care Options for Affordable Health Insurance in Michigan
If you decide to opt for a short-term care policy in your search for affordable health insurance in Michigan, you have 32 choices and four companies from which to choose.
The Short-Term Medical Value Plan only costs $118.78 in premiums. It has a $10,000 deductible and spans six months. Coinsurance is 30% after deductible, and prescription drugs are not covered. It has a coverage period max of $2 million.
2. Companion Life by Pivot Health
The Choice 5000 Plan features a $208.90 monthly premium for six months with a $5,000 deductible and a $1 million coverage period maximum. There is a 20% coinsurance after deductible.
3. Independence American Insurance Co.
The Connect STM RX 50%/10000 plan features a $10,000 deductible and $2 million coverage period maximum. Policies run $175.76 monthly for individuals and have a 50% coinsurance after deductible. Prescription drugs are not covered.
4. National General
The Enhanced 10000 100% plan features a $10,000 deductible and $1 million coverage period max. Premiums cost $180.41 monthly, and there is no coinsurance after deductible. Prescription drugs are not covered.
Find Affordable Health Insurance in Michigan
Now is the time to find affordable health insurance in Michigan. Explore your options above, then protect yourself and your loved ones.