Insurance Regulations in Michigan
Michigan is a beautiful state, with lush forests, vibrant educational centers, heavy industry, and cutting-edge technology. Providing the varied Michigan populace of this beautiful state with adequate, affordable health insurance is a big job. The Michigan Department of Labor and Economic Growth protects the residents by providing assistance and health insurance information. The Department also oversees efficient regulation of the insurance industry and encourages competition among providers.
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Protection for Michigan Residents
- Michigan residents have a right to continue their insurance coverage if they lose their jobs. By federal law, their employers must give them information about how to continue this coverage through COBRA.
- All children in the state of Michigan are eligible to have health insurance coverage for the first year of life.
- Michigan provides breast and cervical cancer screenings and treatment for any Michigan woman who is not able to purchase or locate her own health insurance coverage.
- The Federal Pension Benefits Guarantee Corporation helps many early retirees (who are at least 55) with 65% of the cost of their health insurance.
- If increased imports or jobs moving overseas cause you to lose your job, thus losing your health insurance, the Trade Adjustment Assistance Reform Act may pay 65% of your health insurance costs for up to three years.
- Your insurance policy remains in force if you have paid your premiums on time.
Once you have researched what kinds of health insurance are available for you and your family or your employees, investigate the insurance agents with whom you are considering doing business. The Michigan Better Business Bureau has offices in Southfield and Grand Rapids. They also send some inquiries to Toledo, Ohio.
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