State Insurance Agency Claims Health Insurance Rate Increases Here Lower Than Other States

LANSING, MI (WHTC) – The state Department of Insurance and Financial Services says that consumers and small businesses in Michigan will “experience” lower increases in the cost of their 2016 health insurance plan that those in “many” other states. The average approved rate changes on a premium weighted basis in Michigan is up 6.5 percent for individuals and 1 percent for small groups. This compares to increases “well in excess” of 10 percent in other states, according to DIFS Director Patrick McPharlin.