Study Shows Michigan Has Third Least Competitive Health Insurance Market

I guess that AMA had some tough things to say about the Michigan health insurance Market.  Within this article, they explain their position.

To me as a broker, I feel the state is very competitive within the health insurers that broker here.  Now, at points do these carriers adjust their premiums here?  Well that answer would be yes.  Even I would admit at any point only a select few are priced to sell here.

What you will see is the AMA discussing Blue Cross at heart with the proposal that would turn them into a non-profit mutual health insurance company.  This has been discussed at heart, and we will see where this goes with regards to BCBSM.

As I said, to me at this point (no one knows the future) the state of Michigan has very competitive options for consumers and their Michigan health insurance needs.

Michigan Consumers To Receive Rebates From Health Insurance Companies

Surprising enough to me in this article, Michigan consumers are set to receive 13.9 million in rebates from health insures from the state.

That is correct, over 114,000 consumers in Michigan will receive rebates based on certain health insurance carriers that they have.  This is based on carriers spending more on admin costs, then what was allowed by the initial stages of the health care bill.

So how much?  According to numbers around a rebate of $214 by 8/1/12.  Again, this changes based on if you bought individual health insurance, or covered by group coverage.  If covered by group, your rebate could possibly be a little higher.

Keep in mind if you have BCBSM, you will not be eligible for a rebate based on the DFP article.  Most of the carriers who will be sending rebates are out of state carriers.

Randy