If you buy your own health insurance, start saving your pennies. People buying their own health insurance in Michigan could see near double-digit premium increases next year.
State insurance regulators said Wednesday that Blue Care Network and Blue Cross Blue Shield want to raise rates by an average of 9.3 percent or 9.7 percent in 2015. The rate hikes are subject to change pending state and federal government approval.
Blue Care and Blue Cross sell policies to about three-quarters of 245,000 Michigan affected residents who purchase their own insurance _ either through a website created under the federal health care law or elsewhere. Humana is the insurer with the third-most customers in Michigan's individual market and seeks an 18 percent rate increase affecting 16,000 customers.
Tax subsidies make insurance more affordable for many customers shopping on the federal marketplace.