The Cheapest Michigan Health Insurance for Individuals and Families
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Individuals who can’t obtain health insurance through their employers or the government can find private plans through the Michigan insurance exchange.
When looking for the best health insurance in Michigan, it’s important to consider more than monthly rates. The best plans balance cost and coverage. Health insurance plans with more affordable premiums tend to have higher deductibles and out-of-pocket maximums. While these policies may help you save on monthly expenses, they’ll cover fewer of your medical costs.
MoneyGeek determined the cheapest plans in the Michigan insurance marketplace based on age, coverage level and plan type to help you find the best policy for your needs.
The Cheapest Health Insurance in Michigan by Metal Tier
How much your health insurance costs depends on the metal tier you choose. Some metal tiers — including Catastrophic and Bronze — tend to have lower monthly premiums than Silver, Gold and Platinum tiers. However, these plans also include higher deductibles and out-of-pocket expenses. On the other hand, getting a plan with more medical coverage and lower out-of-pocket expenses means you’ll pay more expensive monthly premiums.
The metal tiers available in the Michigan Healthcare Marketplace are Catastrophic, Bronze, Expanded Bronze, Silver, Gold and Platinum. The average rates for each tier are:
- Catastrophic: $271 per month
- Bronze: $312 per month
- Expanded Bronze: $314 per month
- Silver: $422 per month
- Gold: $477 per month
- Platinum: $612 per month
Relatively healthy individuals may find cheaper tier options, such as Bronze and Expanded Bronze, to be better as they help lower monthly expenses. However, if you need major medical coverage or are expecting to incur regular medical fees, you may save more by choosing more expensive plans like Gold or Platinum.
View the cheapest plan based on monthly premiums for each metal tier in the table below. In the Michigan marketplace, premiums, deductibles and out-of-pocket maxes can vary greatly within each metal tier.
Low-income Michigan residents may be eligible for cost-sharing reductions (CSR). These apply to Silver plans and allow qualified individuals to have lower premiums. In many cases, this can mean paying Bronze-tier premiums for Silver-tier coverage.
All premiums included in the table are for a 40-year-old male for all types of plans available in the state. These rates are for HMO, EPO and PPO plan types, with HMO being the most common in the state.
Cheapest Health Insurance in Michigan by Metal Tier
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- Metal TierPlanCompanyMonthly CostOOP Max
- CatastrophicBlue Cross® Select HMO ValueBlue Care Network of Michigan$226$8,550
- BronzeCore Care Bronze 2Molina Healthcare$268$8,550
- Expanded BronzeMyPriority HMO Bronze 8550 - St. John Providence NetworkPriority Health$232$8,550
- SilverTotally You - ValueTotal Health Care USA, Inc.$305$7,900
- GoldTotal HMO StandardTotal Health Care USA, Inc.$340$7,000
The Cheapest Health Insurance in Michigan by Age and Metal Tier
When calculating health insurance premiums, carriers consider the age of the buyer. Coverage tends to be significantly more expensive for older individuals. For example, the average cost of a Silver plan across all EPO, HMO and PPO plans for a 26-year-old Michigan resident is $338 per month. The average monthly rate for a similar policy is $897 for a 60-year-old.
Health Insurance Costs in Michigan by Age and Metal Tier
The costs used in this analysis are average rates based on sample ages that don’t account for other factors, like income. In some cases, health insurance in the state Marketplace can be more affordable for older Michigans because of tax premiums and other regulatory support services. To know your exact quote, you’ll have to apply for a plan.
Use the table below to compare the cost of health insurance in Michigan based on different metal tiers and ages. Find out more about each metal tier and how to choose a policy by reading MoneyGeek’s guide on Michigan health insurance.
Cheapest Health Insurance in Michigan by Age And Metal Tier
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- PlanCompanyMonthly Rate
- CatastrophicHMOBlue Care Network of Michigan$162
- CatastrophicEPOOscar Insurance Company$167
- CatastrophicHMOPhysicians Health Plan$174
- CatastrophicHMOMcLaren Health Plan Community$194
- CatastrophicHMOPhysicians Health Plan$208
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The Cheapest Health Insurance in Michigan by County
Health insurance rates may also vary depending on where you live. Similar to other states, Michigan is divided into rating areas. Insurance providers use these when calculating premiums.
There are 83 counties in Michigan divided into 16 rating areas. In Wayne, the largest county, the cheapest Silver plan — Totally You - Value — costs $305 per month, on average. Total Health Care USA, Inc offers the policy.
Check the cheapest plans in your county for all metal tiers in the table below.
These premiums are based on a 40-year-old male sample profile looking for a health insurance plan in that county.
Cheapest Health Insurance Plans in Michigan by County
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- Metal TierCompanyCheapest PlanMonthly Premium
- MonroeCatastrophicBlue Care Network of MichiganBlue Cross® Select HMO Value$200
- WayneCatastrophicBlue Care Network of MichiganBlue Cross® Select HMO Value$200
- MacombCatastrophicBlue Care Network of MichiganBlue Cross® Select HMO Value$200
- OaklandCatastrophicBlue Care Network of MichiganBlue Cross® Select HMO Value$200
- St. ClairCatastrophicMcLaren Health Plan CommunityMcLaren Young Adult/Catastrophic$230
The Cheapest Health Insurance in Michigan With High Out-of-Pocket Maxes
A low-cost plan with a high out-of-pocket max may be a good option for younger individuals with limited medical costs. These plans have low premiums, allowing you to save more on monthly expenses. However, keep in mind that they also include less coverage if you have a medical emergency or incur high medical costs.
The most affordable health insurance in Michigan with the highest out-of-pocket expense for a 26-year-old is Blue Cross® Select HMO Value from Blue Care Network of Michigan at $226 per month.
MoneyGeek considers a plan with maximum out-of-pocket expenses of $8,250 or more per year to be a high out-of-pocket max plan.
Blue Care Network of Michigan
Blue Care Network of Michigan offers the most affordable option for a high out-of-pocket maximum plan. Since this is a Catastrophic-tier plan, only those under 30 or qualified for a hardship or affordability exemption are eligible to purchase it.
The Cheapest Health Insurance in Michigan With Low Out-of-Pocket Maximums
If you anticipate high medical costs over the next year, consider enrolling in a higher-cost plan with a low out-of-pocket max. While you’ll spend more on monthly premiums, your recurring medical expenses will help you reach the maximum limit faster. Thus, your insurance carrier will start covering your medical costs sooner.
For Michigan residents, the most affordable plan with the lowest out-of-pocket maximum is the Sparrow PHP Platinum 500 Exclusive policy provided by Physicians Health Plan. It costs $546 per month for the average 40-year-old.
MoneyGeek considers a plan with a maximum out-of-pocket expense of $4,250 or below to have a low out-of-pocket max. The Sparrow PHP Platinum 500 Exclusive policy has a maximum annual out-of-pocket expense of $3,000.
Physicians Health Plan
The most affordable health insurance in Michigan with the lowest out-of-pocket max is from Physicians Health Plan. As a Platinum-tiered plan, it has the highest monthly premiums compared to all other metal tiers. However, since it has the lowest out-of-pocket maximum, it will also cover more of your medical expenses after you reach its spending limits.
Cheapest HMO/EPO/PPO Health Insurance Plan in Michigan
Shoppers must consider their healthcare needs and preferences when choosing a plan type. In Michigan, the Health Maintenance Organization (HMO) is the most common health insurance plan. Insurance carriers in the state also offer Preferred Provider Organization (PPO) and Exclusive Provider Organization (EPO) plans.
HMO plans tend to be the most affordable among plan types. However, policyholders are required to stay in their provider network to have services covered. PPO plans are more expensive than HMO, but they have a wider network. Unlike HMOs, PPOs do not require a referral to see a specialist. Similar to HMO, EPO plans require you to stay in your provider network. But, you may not always need a referral to see a specialist.
For Silver plans, MoneyGeek found the cheapest option for each plan type to be:
- Cheapest HMO Silver Plan: Totally You - Value provided by Total Health Care USA, Inc. at an average cost of $305 per month.
- Cheapest PPO Silver Plan: Blue Cross® Premier PPO Silver Saver HSA from Blue Cross Blue Shield of Michigan Mutual Insurance Company at a $523 monthly premium.
- Cheapest EPO Silver Plan: Oscar Silver Saver 2 through Oscar Insurance Company priced at $346 per month.
Cheapest Plan in Michigan With an HSA
Choosing a Health Savings Account (HSA) plan may be a good option for relatively healthy individuals. These plans tend to be cheaper and allow you to make pre-tax contributions toward your healthcare costs. If you end up not using the money on medical expenses, you can save it.
The cheapest available healthcare plans in Michigan with an HSA option for each metal tier are:
- HSA Expanded Bronze Plan: MyPriority HMO HSA Bronze 700 - St. John Providence Network from Priority Health at $241 per month.
- HSA Silver Plan: Ambetter Balanced Care 25 HSA through Ambetter from Meridian for a $380 monthly premium.
Note that health insurance plans with HSAs have high deductibles, so you may have to use a significant portion of your savings if you have an unexpected major medical expense.
What to Know About Health Insurance in Michigan
The sample rates in MoneyGeek’s analysis are based on private plan data from Michigan’s insurance marketplace. You may be able to find more affordable premiums when you apply for a plan through the state insurance exchange. Low-income and older Michigan residents may also qualify for Medicaid or Medicare, which are government programs that offer low-cost or free insurance.
Private Health Insurance on the Michigan Marketplace
Health insurance plans in the Michigan Marketplace are categorized into different metal tiers. Generally, Catastrophic and Bronze plans offer the cheapest premiums but have the highest out-of-pocket costs. Meanwhile, Gold and Platinum plans have the highest monthly premiums and lowest out-of-pocket costs.
Catastrophic: These plans are available to individuals who are under 30 or facing economic hardship. They have the cheapest monthly rates. However, they also offer the fewest benefits. Compared to other metal tiers, Catastrophic plans have less coverage, higher deductibles and higher out-of-pocket costs.
Bronze: Bronze plans offer more benefits than Catastrophic plans. They also have lower out-of-pocket costs. Bronze plans tend to be the cheapest option for people who don’t qualify for Catastrophic plans. However, Bronze plans still have relatively high out-of-pocket costs, meaning that these policies are best for individuals who don’t need to see a doctor frequently.
Expanded Bronze: This type of plan has slightly more coverage than the Bronze and slightly lower out-of-pocket costs. While it’s more expensive than a Catastrophic or Bronze plan, Expanded Bronze policies are more affordable than other metal tiers available through the Michigan Marketplace.
Silver: Among all metal tiers, Silver plans tend to be the middle ground. They have moderate premiums and out-of-pocket expenses compared to both the cheapest and most expensive metal tiers. Silver plans have higher monthly premiums than Catastrophic, Bronze and Expanded Bronze policies, but they also include lower out-of-pocket costs.
Gold: Gold plans have lower deductibles and out-of-pocket expenses than the first four plans. They’re also more expensive when it comes to monthly premiums. While they may be costly, this plan may be an ideal option for individuals who need major medical coverage.
Platinum: In terms of monthly premiums, the most expensive plans in the Michigan Marketplace tend to fall in the Platinum tier. However, these policies also have the lowest out-of-pocket costs and most comprehensive coverage. If you know you’ll have extremely high medical expenses in the next year, you might want to consider enrolling in a Platinum-tier plan.
Your income level can affect the cost of your health insurance in Michigan. Michigan residents whose income falls between 100% and 400% of the federal property level may be eligible for premium tax credits. For a two-person household in the state, that means you earn between $17,420 and $69,680 annually. Check the Healthcare.gov calculator for more information.
Open enrollment is the period when a policyholder can enroll in a new plan or change an existing policy through the Healthcare Marketplace. Usually, the open enrollment period falls between November and December. Due to COVID-19, the government temporarily extended these dates.
Individuals earning an annual income between 138% and 250% of the federal property level — or $24,040 to $43,550 — qualify for cost-sharing reductions for Silver plans. These reductions will lower your deductibles, copayments or coinsurance, and out-of-pocket maximums. In some cases, you may be able to enroll in a Gold-tier plan at Silver plan costs.
Medicaid in Michigan
Medicaid provides free health insurance to qualified individuals. Michigan is a Medicaid expansion state, meaning that residents can qualify for coverage based on income alone. If your income is below 138% of the federal poverty level, you may be eligible for Medicaid.
Medicare in Michigan
Another affordable option for Michigan residents is Medicare. This federal healthcare program is for individuals 65 years or older or those with a qualifying disability or illness. Unlike Medicaid, Medicare policyholders may have to pay for some coverage. Despite this, it’s usually still a more affordable option than policies from private insurance carriers.
Medicare has three parts:
Part A (Hospital Insurance): This coverage is free. It covers hospital stays, care in a skilled nursing facility, hospice care, and certain home healthcare services.
Part B (Medical Insurance): This coverage has a monthly premium, depending on your income. It covers some doctor’s services, outpatient care, necessary medical supplies and preventive services.
Part D (Prescription Drug Coverage): The cost of prescription drug coverage will be based on your plan. Part D covers prescription drugs and recommended vaccines.
Methodology
MoneyGeek's research is based on estimates, and the cheapest plan for you will depend on your individual needs and characteristics. This analysis is intended to serve as a guide and no single plan is guaranteed to be the cheapest in Michigan for you
MoneyGeek collected plans and premiums for health insurance in Michigan from the Health Insurance Exchange Public Use Files (Exchange PUFs) for all available metal tiers and across several age groups.
Health insurance premiums on this page are an estimate and exclude potential premium tax credits and cost-sharing subsidies that users may be eligible for.
About Mark Fitzpatrick
sources
- Healthcare.gov. "How to Buy a Catastrophic Healthcare Plan." Accessed June 16, 2021.
- Healthcare.gov. "How to Pick a Health Insurance Plan." Accessed June 16, 2021.
- Medicare.gov.. "What's Medicare?." Accessed June 16, 2021.