Priority Health reduces rates for the Individual market to help lower costs for Michigan residents
(Grand Rapids, Mich. – August 24, 2022) Priority Health, a nationally recognized nonprofit health plan, has refiled with a 1.1% reduction in rates for its 2023 ACA Market plans with the Michigan Department of Insurance and Financial Services (DIFS).
At DIFS’ request, all ACA carriers were asked to refile rates for their 2023 Individual market plans due to the passing of the Inflation Reduction Act, which granted a three-year extension of premium subsidies for the Individual market. So far in 2022, more than 260,000 Michigan residents have taken advantage of extended tax subsidies, saving them an average of $800 a year.
The 1.1% rate reduction, in combination with the expanded subsidies, will help consumers enroll in affordable health coverage that fits their health and lifestyle.
“We applaud Gov. Whitmer and Anita Fox, director of the Department of Insurance and Financial Services, for providing the opportunity for health plans in Michigan to amend rates, allowing us to honor our commitment to affordable, accessible and equitable health coverage,” said Praveen Thadani, president of Priority Health.
Open enrollment for 2023 begins November 1, 2022.
About Priority Health:
With over 30 years in business, Priority Health is the second largest health plan in Michigan, offering an extensive portfolio of health benefits options for employer groups and individuals, including Medicare and Medicaid plans. Serving more than 1.3 million members each year and offering a broad network of primary care physicians in Michigan, Priority Health continues to be recognized as a leader for quality, customer service, transparency and product innovation. Learn more about affordable, quality health coverage options from Priority Health.