Big rate hikes coming in 2022 for some Michigan health insurance plans


State regulators have permitted important medical insurance charge will increase for 2022 which might be stated to replicate latest pent-up demand for medical procedures and companies that folks postpone due to earlier COVID-19 surges.

The will increase OK’d by the Michigan Division of Insurance coverage and Monetary Providers take impact Jan. 1 and can common 7.1% for small group plans — companies and group with 50 or fewer workers — and 4.7% for particular person market insurance coverage insurance policies bought by means of the web site. The brand new charges will impression roughly 742,000 folks.

The speed hikes are a lot larger than what regulators permitted final yr as a result of insurers noticed fewer claims throughout the pandemic as folks delayed elective procedures and made fewer visits to the physician. These earlier will increase, 1.4% for small teams and 1.1% for particular person insurance policies, had been unusually low by historic requirements.


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