Michigan ACA Marketplace Premiums are Down

Michigan has shown a small decrease in premiums for plans under the Affordable Care Act (“ACA”).

We can help your practice stay on top of the latest healthcare news, rules, regulations and trends.  Subscribe to stay current and up to date on important matters that will impact your practice.  (To subscribe to our blog ).

There has been a great degree of variance from state to state in health insurance premium increases from 2015 to 2016.

In Michigan, premium prices had been rising since 2014. There was a decrease of 1.9% in Michigan between 2015 and 2016 for the lowest cost silver plan.

Why the decrease?

Michigan has strong competition from other health insurance companies which forced the prices on the marketplace to come down.

How much did the average premium decrease by?

In Michigan, the average premium was:

  • In 2014 – $218 per month;
  • In 2015 – $241 per month.

Now, in 2016, the average monthly premium for the silver plan is $237 per month.

Other states have continued to see steep increases in premiums.

Why the difference?

One of the biggest indicators is competition.

States that have many private insurers allow for competition with healthcare.gov, which forces the prices on the government site to come down.

States that had a less established individual market before the ACA have show increases like that in Oklahoma where premiums went up by 41.8% from 2015 to 2016.

Michigan is one of 19 states that had a decrease or increase of less than 5% from 2015 to 2016.

Michigan’s average monthly premium is lower than the national average which is $283 per month for 2016.

In our next blog post, we will keep you informed of related issues.  To get this important information delivered directly to your mail box, 

Do you need help staying current and compliant with the latest laws, rules and regulations?  We can help. To contact us about your new government rules and regulations, your practice’s risk assessment, or about your other legal needs:  CLICK HERE.

P.S. If you or your patients are interested in consumer healthcare issues, check out myhealthspin.com.

Related Posts


Recent Posts

Getting Remarried? Here’s What You Need to Know
March 21, 2024
What is the Biggest Threat to Healthcare?
January 30, 2024
How Can I Simplify Estate Planning?
January 11, 2024
I Have a Trust. Now What?
December 7, 2023
Breaking: Corewell Health Breach
December 5, 2023


Subscribe to Our Newsletter

Subscribe and get your FREE copy of Easy Guide to HIPAA Risk Assessments

An essential tool for all healthcare providers, Easy Guide to HIPAA Risk Assessments breaks down the requirements of HIPAA so you can successfully complete your required risk assessment. (an $8.99 value)

Thank you for subscribing to the Rickard & Associates healthcare blog. You'll receive a confirmation email shortly. After verifying your subscription request, you'll be sent to the "Easy Guide to HIPAA Risk Assessments" download page.