Big rate hikes coming in 2022 for some Michigan health insurance plans

State regulators have permitted important well being insurance coverage amount increases for 2022 that are explained to reflect recent pent-up need for medical procedures and services that people put off because of earlier COVID-19 surges.

The increases OK’d by the Michigan Division of Insurance coverage and Financial Providers consider impact Jan. 1 and will normal 7.1% for modest team plans — firms and organization with 50 or fewer staff — and 4.7% for particular person market insurance coverage guidelines ordered via the site. The new rates will effects approximately 742,000 men and women.

The charge hikes are a great deal bigger than what regulators authorized very last calendar year for the reason that insurers saw fewer statements throughout the pandemic as individuals delayed elective processes and manufactured fewer visits to the doctor. Those previous raises, 1.4% for little groups and 1.1% for person guidelines, were unusually minimal by historic criteria.