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2015 Michigan Health Insurance Marketplace Update

Written by: PeopleKeep Team
September 19, 2014 at 2:00 PM

michiganWith open enrollment for health insurance coverage for 2015 right around the corner, many of the Marketplaces are releasing their approved individual and small employer health plan rates for 2015. This article provides an overview of health insurance rates for Michigan in 2015.

Michigan Health Insurance Marketplace- Approved Carriers for 2015

There are nine insurance companies offering individual health insurance plans through Michigan’s federally-run Marketplace. The carriers are:

1. Humana Meidcal Plan of Michigan, Inc.

2. Blue Care Network of Michigan

3. Total Health Care USA, Inc. 

4. McLaren Health Plan

5. Priority Health

6. Blue Cross Blue Shield of Michigan

7. Consumers Mutual Insurance of Michigan

8. HAP

9. Molina Healthcare of Michigan

These carriers are offering 52 different plans throughout the state. The health insurance Marketplace will be available for open enrollment for coverage in 2015 on November 15, 2014.

Michigan Health Insurance Exchange- Individual Plan Rates

The chart below shows available monthly rates for a 30-year-old, a 50-year-old, a family of four with 30-year-old parents and two children, a single parent family of two with a 30-year-old-parent and one child, and a 30-year-old couple without children. These plans are divided into the four “metallic tiers” of coverage to compare plans by level of coverage.

This data is for individuals living in Wayne County, Michigan. Premium rates will vary based on carrier, plan, age, region, family size, and tobacco use.

  Age 30 Age 50 Family
of 4
Platinum $324 $509 $1,008 $504 $647
Gold $196 $308 $688 $344 $392
Silver $170 $267 $528 $311 $339
Bronze $150 $235 $519 $260 $333

Source: HealthCare.gov (click link for detailed rates by region and plan)

Michigan Health Insurance Marketplace- Premium Tax Credits

The above rates reflect the premium prices before any cost-sharing or premium tax credits, which may further decrease healthcare costs for eligible consumers. The actual premium amount that Michigan residents will be responsible for will depend on their household income.

The premium tax credits cap the cost of health insurance at two to 9.5 percent of the household income for enrollees for households with income up to 400 percent above the federal poverty line (FPL).

Additional Resources

For information on how to apply for individual health insurance on the Health Insurance Marketplace see: How to Apply for Individual Health Insurance in 2015.

More information on the federally run Michigan Health Insurance Marketplace is available at healthcare.gov.

To see rates from las year, see Michigan Insurance Exchange Update- Health Plan Rates

To see information on health insurance options for small businesses in Michigan, see Michigan Small Business Health Insurance Information

Questions about the individual and family health plan rates for the Michigan Health Insurance Marketplace? Leave a comment below.

Topics: Affordable Care Act, Health Insurance

Additional Resources

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