Obamacare Michigan

The Obamacare Michigan state exchange is run by the Federal government. This is because Michigan’s government has opted out of running their own exchange. So, the Federal government runs the Obamacare Michigan exchange for them.

obamacare-michigan

The healthcare marketplace in Michigan is responsible for signing up over 1 million people who lack even basic healthcare insurance. The Obamacare Michigan state exchange for Michigan residents can be found at: Healthcare.gov.

The Obamacare Michigan exchange is a place where private health insurance polices–that have met Affordable Care Act regulations–can be purchased. Michigan is one of 36 states that will let the Federal government run their healthcare marketplace.

Here is Gov. Snyder talking about Michigan policies on Neil Cavuto::

For a 27 year old (cheapest age) the weighted average in Detroit, MI (monthly premiums before federal tax credits) is:

  • Cheapest Bronze plan costs $138
  • Cheapest Silver plan costs $156
  • Cheapest Gold plan costs $181
  • Cheapest catastrophic plan (under 30) is $105.

The Michigan healthcare exchange is simply a store where you can compare/buy Obamacare plans. 85% of Americans already have insurance, and have little need for the healthcare exchange (other than to shop for a cheaper plan). 15% of Americans don’t have insurance. These are the ones who really need to use the healthcare exchange to get coverage.

How Do I Sign Up For Obamacare In Michigan

How do I sign up for Obamacare in Michigan?

Sign up for Michigan Obamacare by going to Healthcare.gov. You can get healthcare on the Obamacare Michigan state exchange 3 ways:

Calling 800-318-2596 (TTY: 1-855-889-4325) is the phone number for individual Obamacare help. Small business can call 800-706-7893 (800-706-7915). You can go Find Local Obamacare help here.

Open enrollment begins October 1st of each year. Healthcare coverage begins January 1st. You must apply for healthcare via open enrollment by March 31st. You must have health coverage or pay a penalty due to the Individual Mandate. By applying for coverage, you will find out if you qualify for:

  • Medicaid
  • Subsidized Private Insurance Plan
  • Private Insurance Plan (likely cheaper premiums than private offerings)

Obamacare For Michigan Residents

Obamacare for Michigan residents can be bought at Healthcare.gov. You can go there to see what plans you qualify for, and how much they cost. Michigan residents with lower incomes are eligible for subsidies or Medicaid.

Do I Need To Sign Up For Obamacare?

To answer the question, “Do I need to sign up for Obamacare?” consider the following:

  • If you currently have insurance through your employer or government, you don’t have to do anything.
  • If you don’t have insurance–and you are low income ($15,282 for an individual)–you may qualify for the expansion of Medicaid.
  • If you don’t qualify for Medicaid, you will likely qualify for subsidies to buy health insurance when you sign up on the state exchange at Healthcare.gov.

Obamacare Michigan Rates

Obamacare Michigan rates vary by the same factors that exist in most states. In Michigan, the rate you pay for health insurance varies by:

  • your age
  • your income
  • where you live in Michigan
  • if you smoke
  • the level of coverage you pick

Federal tax credits will help people with low to mid incomes pay for heath insurance. Obamacare Michigan tax credits are the same as in other states. The only difference is how the poverty level is defined in each state.

Michigan rates are also determined by insurance companies who divide Michigan into regions when setting the rates. Michigan rates are coming in higher than expected. The differences between high and low rates for healthcare insurance in each region includes:

  • regional differences in medial costs
  • relative health and age of the population
  • disease/mortality rates of the region
  • competition between insurers
  • (more insurers leads to lower rates)

Michigan Premiums

Michigan premiums for insurance are coming in lower than expected. The best way to get lower premiums is to qualify for Medicaid. The next best way is to qualify for Federal subsides by falling into the income ranges below.

Subsidies on Michigan premiums are for individuals and families who make between:

  • $11,490 to $45,960 for individuals
  • $15,510 to $62,040 for a family of 2
  • $19,530 to $78,120 for a family of 3
  • $23,550 to $94,200 for a family of 4
  • $27,570 to $110,280 for a family of 5
  • $31,590 to $126,360 for a family of 6
  • $35,610 to $142,440 for a family of 7
  • $39,630 to $158,520 for a family of 8

Individuals and families that make less than this range may be eligible for the expansion of Medicaid (detailed below). Those that make more than this range are not eligible for Federal subsidies, but should still be able to find cheaper plans than in the private sector.

Those that do fall into this range will get Federal subsidies on their health insurance. Obamacare Michigan premiums also depend on the type of plan you choose. See more about Obamacare plans here. Recent data from the RAND Corporation on Michigan premiums shows that in Michigan (before Federal subsidies):

For all age groups and plans combined in Michigan:

  • The Lowest Cost Weighted Average Premium (Bronze) in Michigan is $222/month (national average is $249).
  • The Lowest Cost Weighted Average Premium (Silver) in Michigan is $271/month. (national average is $310).
  • The 2nd Lowest Cost Weighted Average Premium (Silver) in Michigan is $306/month. (national average is $328).

For a 27 year old (cheapest age) weighted average in Michigan (monthly premiums) before federal tax credits:

  • The cheapest Bronze plan costs $146
  • The cheapest Silver plan costs $178
  • The cheapest Gold plan costs $218
  • The cheapest catastrophic plan (under 30) is $118.

For a family of 4 ($50,000 income) weighted average in Michigan (monthly premiums):

  • The cheapest Bronze plan costs $80/monthly after tax credits
  • The 2nd cheapest Silver plan costs $731/month before tax credits
  • The 2nd cheapest Silver plan costs $282/month after tax credits

These premiums are for weighted averages for most people. Results will vary based on a few factors for your personal situation. The good news about Michigan premiums is that they are slightly lower than the national average.

In some states, premiums are going up higher to account for people with preexisting conditions. Insurance companies are making up for the fact that they could exclude people with preexisting conditions in the past. In Michigan, there was already some protections on who could be covered. This will help keep premiums lower.

More good news about Michigan premiums is that Federal subsidies will help lower costs for many people. Individuals making less than $45,960 are eligible for subsides in Michigan. Families of four making less than $94,200 should also qualify for subsidies on premiums.

Here is a nationally renowned healthcare expert talking about the future of Michigan Obamacare:

Medicaid Expansion In Michigan

Medicaid expansion in Michigan is going to happen. Starting January 1st, 2014, the Obamacare rules go into effect. People making less than $15,282 (133% of Federal Poverty Line) qualify for the Medicaid expansion. This will give health insurance to 320,000 low-income people in Michigan.

Gov. Rick Snyder says the Medicaid expansion in Michigan has safeguards to make sure the program is cost-effective. Read more about how the Medicaid expansion will improve health, save money, create greater access, and lower business costs according to Snyder.

Also, Gov. Snyder says:

[The Medicaid expansion] makes sense for the physical and fiscal health of Michigan. Expansion will create more access to primary care providers, reduced the burden on hospitals and small business, and save precious tax dollars.

Although all of this may sound complicated, all you have to do is sign up. You can sign up for Obamacare at Healthcare.gov. The Obamacare exchange in Michigan will help you see what Obamacare can do for you.