LANSING – More health insurance companies will be available on the Michigan Health Insurance Marketplace in 2015, according to a statement released Tuesday by the Department of Insurance and Financial Services.
Eighteen health insurance companies have submitted filing information to be included in the marketplace in 2015, during its second year of operation.
The Health Insurance Marketplace is a federally operated, primarily online market where either individuals or small businesses can shop for health coverage, comparing rates between the participating companies.
Five more companies are looking to participate than this year. Sixteen of those companies submitted plans for the individual market and 11 offered small group market plans.
The state’s largest insurer, Blue Cross Blue Shield of Michigan, will double its product offerings on next year’s market with a total of 41 options.
New plans include an “extra” designation, which pays for more physician and specialist visits, as well as generic prescription drugs. Also available is a new platinum-level plan with a lower deductible and better dental and vision coverage.
The insurance plans won’t be available to Michigan consumers until November 15, when the marketplace begins taking applications for open enrollment for 2015.
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