Nine health insurance companies filed to have individual plans included next year on the Obamacare exchange in Michigan, requesting rate changes ranging from an increase of 8.3 percent to a decrease of 8.8 percent, according to the Michigan Department of Insurance and Financial Services.
Open enrollment for Michigan’s Health Insurance Marketplace, operated by the federal government, starts Nov. 1 and closes Dec. 15. Coverage starts Jan. 1, 2020.
“Michigan consumers have a strong lineup of insurers from which to choose when shopping for health insurance coverage,” DIFS Director Anita Fox said in the release. “We are entering the 10th year of the Affordable Care Act, the fact that we have nine companies continuing to offer plans shows that Michigan’s Marketplace is continuing to thrive. Some states have as few as one or two options. A robust Marketplace is an important part of ensuring that more Michiganders are covered in 2020.”
The only significant proposed increase for the individual market comes from Oscar Insurance Co., with 8.3 percent. The requested rate increases/decreases for those who filed to participate in Michigan’s Health Insurance Marketplace are:
