Affordable Individual & Family Health Insurance in Michigan, MI

Affordable Health Insurance in Michigan

Even if you think you can't afford health insurance, there are some options available to you. Health insurance companies have put together new plans to help fight the high cost of health care insurance in Michigan and the rest of the Country.

Michigan Health Insurance Plans for Individual, Family, and Self Employed

Many large health insurance companies such as United Health Care, Humana, Prudential, and Mega Life, just to name a few, have put together high deductible insurance plans (HDHP) combined with an (HSA) health savings account. These new plans feature higher deductibles in exchange for lower monthly premiums.

With HDHP insurance coverage you must meet the annual deductible amount before the policy begins to pay. Policies typically pay 80% to 100% of medical care costs after the deductible has been met. Deductibles typically range from $1100 to $5000. For individual coverage, the annual deductible in 2011 is at least $1,200; for family coverage, it must be at least $2,400.Preventive care is usually included with these new health plans as Co-pays and most require you to use in-network providers.

The idea is that with a smaller monthly premium you can afford to put money into an HSA savings account each month for future medical expenses such as your deductible. The annual contribution limit for an HSA for individual coverage is $3,050 in 2011. The annual limit for family coverage is $6,150. For individuals between 55 and 64, additional "catch-up" contributions to an HSA are allowed -- $1,000 in 2011.

Catastrophic and High Deductible Health Insurance Coverage

If you're looking for low insurance premiums but want coverage that picks up the slack when it comes to major medical concerns, a catastrophic health insurance policy might be just what you need. Read on for more information about this cost-saving health insurance strategy.

Also known as "high deductible" or "major medical" insurance, catastrophic health insurance is designed to protect you from ruinous medical costs while encouraging you to shop wisely for routine health care.

Here's how it works:

• You choose a higher-than-normal deductible, usually between $500 and $2,000, depending on your insurer.
• You agree to cover your own medical costs up to that deductible amount.
• Once you spend up to your deductible, your insurance company covers 80-100 percent of your medical costs (with certain restrictions).

As you can see, catastrophic health insurance leaves the choice in your hands. You make the choices that fits you and/or your family best; your insurance company rewards you for taking on a measure of additional financial risk.

Health Insurance in Michigan Quotes

One of the best ways to find affordable Michigan health insurance is to go to an insurance quote website and request quotes. Immediately after you complete their short form, you'll get several low cost HDHP, HMO, PPO, and POS quotes while still online. After you have your quotes, you can compare the different policies and see if one will work for you. It's that easy!

Just click on the following link to get affordable health insurance quotes and more health plan information. It's fast, it's free, and you're under no obligation. You'll get 4 to 5 competitive quotes for health insurance in Michigan.