With open enrollment looming, Michigan consumers shopping for individual health insurance may have to dig deeper into their pockets next year, as insurers are seeking an average rate increase of more than 14% for 2027.
The Michigan Department of Insurance and Financial Services will have the final say on the rates after reviewing the proposals.
Dr. Rhonda Randall, chief medical officer for UnitedHealthcare Employer and Individual, stressed consumers should take time to understand their options rather than automatically sticking with their current coverage.
"The most common thing we see is people wait too late and then they feel like they're cramming for a big test to make this very important decision. And it can be really tempting to just renew what you already have but the coverage you currently have might not be the best coverage for you next year," Randall pointed out.
Randall stressed consumers should consider whether their health needs have changed before choosing a plan. Michigan's individual-market open enrollment begins Nov. 1 and runs through Jan. 15. Dec. 15 is the enrollment deadline for coverage beginning on Jan. 1, 2027.
Health care experts acknowledged figuring out the true cost of coverage can be a challenge.
Shannon Biergans, a board-certified family nurse practitioner and founder of Advocate LLC in Lansing, said many consumers don't have a clear picture of what they're already paying for health care.
"Your average health consumer, I think if you asked them on the street what their premium was and what was being taken out of their paycheck, they probably wouldn't even be able to tell you," Biergans observed.
She noted it makes it especially important to understand the full financial picture when comparing plans, including deductibles and what consumers could have to pay before insurance kicks in.
"I think it's important to understand what your total out-of-pocket is going to be, what's your deductible, how much are you going to have to meet before your insurance kicks in," Biergans underscored.
Consumers can get free help comparing marketplace plans through HealthCare.gov or certified enrollment assisters.
UnitedHealthcare contributes to our fund for reporting on healthcare.
