Priority Health reduces individual insurance pricing for second straight year, offers exclusive benefits
(Grand Rapids, Mich. - June 14, 2019) Priority Health announced today that for the second straight year the company plans to reduce individual insurance premiums. Priority Health submitted a variety of product options on the Affordable Care Act marketplace for approval by state regulators that would decrease individual plan premiums by an average of 0.8 percent. For MyPriority Silver plans, which are for members who are the most price sensitive and receive subsidies, rates have decreased 2-3 percent. Priority Health is the only health insurer in Michigan to decrease pricing of its individual plans the last two years.
Along with lower costs, the company is responding to consumer demand with new plans and benefits, including the new MyPriority Silver plan including four out-of-state visits for travelers and snowbirds, access to over 10,000 fitness centers nationwide and a lower deductible. Priority Health is also offering a $0 deductible MyPriority Gold plan offered through five Narrow Networks, which have historically cost 10 to 20 percent less than broad network plans.
"To make healthcare more affordable people need healthcare that is personalized to their needs, which is why Priority Health has created plans for all budgets and every stage of life," said Stacey Harrington, vice president, individual markets. "While lowering pricing for the second year will help members, providing smarter benefits that our competition doesn't will improve the lives of people in our communities."
The individual plans that Priority Health will offer deliver affordable access to the services people use most, allowing members to pay less for routine care and still have peace of mind knowing they're protected if something catastrophic happens, or while traveling. The company will offer a total of 7 options, with narrow network options available both on and off the marketplace.
"Making sure our members can make smart choices is crucial, and to do that we need to ensure we are offering affordable options," said Harrington.
Some of the additional new MyPriority product offerings for 2020 include:
- An expanded, lowest-cost option Bronze plan
- Diabetic management benefits that include education classes with approved providers and shoe inserts for members with peripheral neuropathy