Michigan Medical Plan Insurance Policies

Medical insurance in Michigan is a must-have because to give your family good health is priceless. After an accident or when they get sick and hospitalized, it will make you ready for the hospital bill. When choosing a Michigan health insurance plan, it is important to do your research in order to match your family's medical needs and to know what you can and cannot afford.

Residents of Michigan can pick out from several kinds of health insurance policies. The law that governs the Michigan medical insurers to sell private medical insurance to individuals and families is under the Michigan Office of Financial and Insurance Regulations.

Blue Cross Blue Shield of Michigan individual health insurance policies in Michigan are given on a guarantee issue basis. This also applies to Michigan HMO , which are made during the yearly period for enrollment. Despite of past or present health history of the individual, guarantee issue policies must provide individual health insurance coverage.

The medical insurance carriers may cover all individual Michigan health insurance policies; this is with the exclusion of policies made by Blue Cross Blue Shield of Michigan. All medically underwritten policies should first be approved by the carrier, with them being granted to extend complete coverage as offered on the medical plan; extend coverage as stated on the medical plan with specific boundaries and exceptions about prior circumstances; or refusing coverage due to past and present health history. Medical insurance carriers are allowed to examine your health history for the past 6 months and include a year of exclusionary period of time on pre-existing health conditions without requiring prior coverage. Without the evaluation limits on any of the other health insurance carriers, Blue Cross Blue Shield of Michigan is required to evaluate every single product of their medical insurance.

The term small group health insurance in Michigan refers to a group of workers with figures between two and fifty and includes a secure issue basis. In order to get entitled for the coverage, a minimum of two workers should work for twenty hours or more per week for at least 6 months in a year.

Guarantee issue health insurance policies require that all individuals be given coverage despite past or current medical conditions of its workers. With the exclusion of Blue Cross Blue Shield of Michigan and HMO plans in Michigan, health insurance carriers can add an exclusive period for those individuals who had conditions that existed before and also do not hold proof that they had credited coverage. When you get accepted and before letting you join in the group health plan, your employer may include a waiting period.

The state of Michigan requires the group health insurance premium fee be medically underwritten with only a rate adjustment of 45%. Meaning, the insurance companies may require a higher fee to small groups with a past and present medical conditions, but is not allowed to require a fee of more than 45% of the standard published rate to those groups with a higher risk. With a rate adjustment of 35%, Blue Cross Blue Shield is not allowed to adjust rates but may modify them depending on the location of the business.

According to the federal COBRA regulations, an employee who is about to leave is eligible to be covered in the group health insurance plan for an 18 month period as long as the health plan still exists. Groups which are composed of 20 or more workers must abide to this federal regulation. An employee who has resigned or was fired is entitled to be covered by COBRA except when he was fired due to gross misconduct. Beneficiaries, spouses, and independents are also covered for health insurance by COBRA. The COBRA recipient is responsible for the fee of the entire premium of the insurance that the employer was paying for, also the administrative cost of 2%.

Michigan does not have a state mini-COBRA. HIPAA-eligible Individuals who do not prefer an affordable group health insurance plan in Michigan and also do not have COBRA benefits open to them may have guaranteed issue coverage via Blue Cross Blue Shield of Michigan. Michigan does not have a high-risk health insurance group which is why guaranteed issue coverage is obtainable.

Summary: Those who live in Michigan have a wide array of affordable health insurance plans that they can choose from. Blue Cross Blue Shield of Michigan is granted on a guarantee issue basis.

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