Michigan Health Insurance

The state of Michigan’s Office of Financial and Insurance Regulations is the department of the government that regulates the laws that insurance companies selling individual and family insurance must abide by. These laws are set in place to help standardize the quality of health care insurance that is offered to consumers of the state. This department has set a wide variety of health care insurance alternatives for the consumers in their state.

If you are living in the state of Michigan, the only insurance company that offers guaranteed policies is Blue Cross Blue Shield of Michigan. This company also has other types of policies but no one can be denied for coverage with the guarantee issue policies the law has mandated that they carry. This type of insurance will cover you regardless of your current or past medical history where other companies have the right to be medically underwritten, giving them the right to deny coverage.

With the medically underwritten policies, the company can do three things with your application to be insured. They can opt of cover you fully, cover you with riders attached to your policy limiting the conditions they will pay for, or they can deny you coverage altogether. If the company opts to cover you fully, they will skip straight to the calculation of your premium. If they opt to cover you with riders, there will be certain forms you will be required to sign, releasing the company from obligation to pay for treatment caused by a previous condition, which the companies are allowed to look back in your medical history 6 months for. If they offer to deny you coverage altogether you may want to go with a type of policy that is guarantee issue.

Several elements of your personal life are used to calculate the rate of your premium. The cost may be dependent on your age or gender. The rate may also depend on where you live and will more than likely increase if you are a tobacco user.