Top Rated Insurance Companies In Michigan - The cheapest Silver health insurance plan in Michigan is Ambetter Virtual Access Silver, which is available in 32 counties. MyPriority Telehealth PCP Silver 5500 is the cheapest Silver plan in 42% of Michigan counties. Because health insurance prices and availability vary by location and age, we recommend comparing prices from different insurers before purchasing a policy.
For a 40-year-old, the average cost of health insurance in Michigan is $435 per month for a Silver plan.
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We recommend using these low-cost health insurance policies as a starting point to determine the costs and benefits you can expect from a certain level of coverage.
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We've compared Michigan health insurance plans by tier to determine the cheapest policies available for each level of coverage.
Higher levels of metal coverage have lower out-of-pocket costs, which means you'll pay less if you need to use health insurance, but they also have higher premiums.
In addition to the level of coverage you choose, your age is an important factor in determining your health insurance rate, as premiums go up as you get older. As you can see in the example above, a 40-year-old will pay 28% more than a 21-year-old Silver policy, while a 60-year-old will pay 112% more than a 40-year-old for. the same policy.
Insurance companies and health plans available will vary depending on the country you live in, so the ones listed below may not be offered in your area.
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The best health insurance plan available to you in Michigan will depend on the county you live in, as this determines what plans are offered as well as your income.
In each county, you can choose from metal coverage levels that reflect the plan's monthly premiums and benefits. In general, higher metal plans have more expensive premiums, but out-of-pocket costs such as deductibles, co-pays and insurance are lower. Lower metal level health plans, on the other hand, have lower monthly rates and higher cost-sharing features.
So, for example, if you're young and have no health problems, your net costs will likely be lower with a silver or bronze plan because you'll likely have less medical expenses during the year. However, if you get sick and need to be hospitalized, your total costs may be higher because you have to cover a large amount of expenses before your health insurance will cover them.
Gold health plans have the most expensive monthly premiums, but usually offer the lowest costs, such as deductibles and co-pays. Therefore, if you expect to have high medical expenses, such as expensive prescriptions, a high metal level policy may be your best choice for health insurance.
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Silver plans are often the best health insurance option if you're looking for a middle ground to balance affordable premiums with out-of-pocket costs. They are also eligible for Cost Sharing Reduction (CSR) grants for low-income households, which can help make your healthcare more affordable.
Bronze and catastrophic plans often have the lowest monthly health insurance rates, making them a good choice for young and healthy people with low expected medical expenses. We do not recommend this policy if you have the financial resources to cover large out-of-pocket expenses in the event of an emergency.
The lower tiers have the highest deductibles, co-pays and co-insurance, which means coverage won't be extended until you cover those costs yourself. Also note that catastrophic plans are not available if you are under 30 or qualify for certain exclusions, so this option may not be available to you. Catastrophic plans are also not eligible for premium tax credits.
Michigan expanded Medicaid for residents under the Affordable Care Act (ACA), so if your income is 133% or below the federal poverty level (about $18,000 for an individual or $37,000 for a family of four), you may qualify for Medicaid or a qualified health plan.
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Health insurance providers are required to report any changes to premiums, deductibles and out-of-pocket maximums to federal regulators. This happens every year and is the reason you may see a slight increase in your health insurance costs.
In 2023, health insurance costs in Michigan increased by an average of 2% for most plans, and Catastrophic plans increased by 5% compared to 2022.
You can buy short-term health insurance in Michigan, but the policy is limited compared to federal guidelines for this type of plan. If you have a short-term plan, coverage is only available for up to 185 days and extensions are not allowed - a new plan must be purchased from another insurer.
Although short-term plans provide a variety of insurance benefits, they are not required to cover all major benefits, including pregnancy, mental health, and prescription drugs. Before buying a short-term health plan, you need to make sure that the policy meets your needs.
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For those who want to compare policies, there are 10 health insurance companies currently listed on the Michigan Exchange:
The best cheap health insurance plans are likely to be offered by Blue Cross Blue Shield, Ambetter by Meridian, or Priority Health. One of these companies offers the cheapest Silver health insurance plans in 99% of Michigan counties.
The county where you live in Michigan will determine the health insurance companies and plans available. To help you find the best health plan, we have compared the monthly rates of all policies in the state to determine the cheapest Perak policy in each district.
Your actual health insurance cost will vary based on your age and family size, but we recommend using this as a starting point to determine the most affordable Silver plan near you.
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Large families in Michigan will pay higher premiums for health insurance as more people opt for the policy. The cost of adding another family member to your health insurance will depend on their age.
Children under 15 are charged on average, while older children and spouses are charged a rate that increases each year as they age.
So, for example, if you and your spouse are covered by a Silver plan and want to add coverage for your new baby, your monthly premium will increase by about $260 — the average cost of adding health insurance for children in Michigan.
Conversely, if you're newly married and want to add a 40-year-old spouse to your policy, your premium will double -- an average of $435 a month -- assuming you're the same age.
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Adults are accepted up to 40 years. The children are believed to be under 15 years old. Cost estimates are based on the average monthly cost of Silver plans in Michigan.
Michigan residents can get free or low-cost health insurance through the Michigan Medicaid program. You can find out if you qualify and how to apply for coverage by visiting the Michigan Medicaid website.
The average cost of a Silver health insurance plan in Michigan is $435 per month for a 40-year-old. Depending on your income and family size, you may qualify for premium tax credits (which will lower your monthly payments) and/or cost-sharing subsidies (which will lower your deductibles, co-pays and insurance).
When looking for affordable health insurance in Michigan, you can start by determining if you qualify for Medicaid. If not, review ACA plans based on your budget and health care needs. The cheapest Silver plan in Michigan is Ambetter Virtual Access Silver, which costs $311 per month, but a higher or lower metal level may be a better value depending on healthcare usage.
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Health insurance rates, deductibles, and maximum out-of-pocket in this report were collected from the Center for Medicare and Medicaid Services (CMS) government website. Using publicly available files (PUFs), averages are calculated by age, county, plan level, and family size to better understand the Michigan health insurance market. Plans and providers where county-level data were included in the CMS Crosswalk files used in our analysis; excluded from this data set may not be displayed.
To get an insurance quote over the phone, call: (855) 596-3655 | Agents are available 24 hours a day, 7 days a week! However, we do not recommend buying based on price alone. Choosing the right renters insurance is about finding a balance between low prices, the right coverage, and reliable customer service.
Renters in Michigan can find the cheapest prices at Travelers, where policies cost an average of $182 per year or $15 per month. That's $134 a year cheaper than the national average.
Renters in Michigan should also consider getting a quote from State Farm -- the average policy costs $18 per month or $212 per year, which is 33% cheaper than the state average.
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There is a significant difference in fees between renters insurance companies in Michigan. The cheapest Travelers insurance company costs 64% less than the most expensive. move can save renters in Michigan $318 a year.
The best renters insurance company in Michigan is State Farm - they offer affordable rates and are highly rated for customer service. State Farm renters insurance costs are very low for Michigan at $18
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