According the United Health Foundation, Michigan is the 37th healthiest state in the U.S. No matter where you call home in this great state, you likely think about your health and the health of your loved ones carefully. Without insurance, many residents are hesitant to visit the doctor even when they feel sick, out of fear for the medical bills. Paying insurance premiums may seem burdensome for some, but without insurance, the financial impact of a serious accident or illness can be much more costly.
An independent agent in the Trusted Choice® network can help you review your needs and find the right Michigan health insurance for your family. These agents have access to multiple policies from a variety of resources. This allows you to find the policy you need at a price that fits within your budget. Contact a Trusted Choice independent agent today to get started comparing Michigan medical insurance quotes.
Michigan Health Insurance Facts
- 50% of health coverage comes from employers.
- 5% of residents have individual coverage.
- 17% of residents have Medicaid coverage.
- 15% of residents have Medicare coverage.
- 13% of residents are uninsured.
- Michigan spent $65 million on healthcare in 2009.
- Average premiums for an individual with employer plan: $1,101/year.
- Average premium for an individual with independent plan: $204/month.
Examining Out-of-Pocket Healthcare Costs
In addition to your monthly premium, there are several out-of-pocket costs associated with Michigan health insurance. The types of charges and the amount depend on your healthcare plan. When you purchase an insurance plan, consider the deductible. A deductible is the amount that you must pay out of pocket before your health insurance kicks in. Most policies have an overall deductible that must be met, but some also include procedure-specific deductibles. A high deductible gives you a lower premium, but make sure you can handle the immediate costs out of pocket.
Other out-of-pocket costs include co-pays and co-insurance. A co-pay requires that you pay a set amount of money each time you visit the doctor. Some trips may be more expensive than others, but you’ll know in advance. Co-insurance works on a percentage basis that is set up between you and the insurance company. For example, some policies require that you pay 20% of all treatments and the insurance company picks up the remaining 80%. If you aren’t sure what kind of Michigan health insurance plan you have or need, contact a Trusted Choice member agent.
Michigan Health Insurance Options
Picking the right insurance plan requires knowledge of your personal health, family situation, and financial ability. While there are a limited number of health insurance plans, each can be customized. Understanding your personal needs is the key to finding the best health insurance match. If you aren’t sure how each plan can benefit you and your family, seek help from an independent agent in the Trusted Choice network. Your agent may discuss a variety of health insurance options, including:
- HMO, health maintenance organizations: This type of plan requires that you choose a primary care physician within your network for all your needs. Seeing a different doctor requires a referral. Monthly premiums and co-pays are pre-determined amounts.
- POS, point of service: You still have a primary care physician, but have the ability to freely seek other medical professional assistance. For that treatment to be covered, you must provide documentation to your insurance company.
- HDHP/HSA, high deductible health plan/health savings accounts: Typically paired together, these plans are very affordable, but come with a high out of pocket deductible. Preventive care is normally covered and you can build medical savings tax free.
- PPO, preferred provider organizations: If you choose a physician or doctor within a certain network, you’ll receive reduced cost healthcare. If you travel outside of the network for care, it may cost more.
Compare Michigan Medical Insurance Quotes
Choosing health insurance is a serious decision that has a direct effect on your ability to manage your health proactively, whether you pay frequent visits to the doctor or you rarely get sick. Be sure to work with a knowledgeable agent to review your ongoing needs and make sure you have the right plan in place.
To compare policies and Michigan medical insurance quotes, contact a Trusted Choice member agent today.