Cheapest health insurance by metal tier

We compared health insurance plans in Michigan by metal tier in order to determine the cheapest policies available for each level of coverage.

Higher metal tiers of coverage have lower out-of-pocket costs, meaning you'll pay less in the event you need to use your health insurance, but they also come with more expensive premiums.

In addition to the level of coverage you choose, your age is a significant factor in determining health insurance rates, as premiums get more expensive as you get older. As you can see in the example above, a 40-year-old would pay 28% more than a 21-year-old for a Silver policy, while a 60-year-old would pay 112% more than a 40-year-old for the same policy.

The insurers and health plans available will change depending on the county in which you live, so those listed below may not be offered in your region.

Finding your best health insurance coverage in Michigan

The best health insurance plan available for you in Michigan will depend upon the county you live in, as this determines which plans are offered, as well as your income.

In each county, you'll be able to choose among metal tiers of coverage, which indicate both a plan's monthly premiums and benefits. Generally, higher metal tier plans have more expensive premiums, but out-of-pocket costs, such as deductibles, copays and coinsurance, are much lower. Lower metal tier health plans, on the other hand, have cheaper monthly rates alongside much higher cost-sharing features.

So, for instance, if you're young and have had no health issues, your net cost would likely be lower with a Silver or Bronze plan since you're likely to have fewer medical expenses throughout the year. However, if you became ill and needed to be hospitalized, your total expenses may be higher, as you'd need to cover large out-of-pocket costs before your health insurance would provide coverage.

Gold and Platinum plans: Best for high medical costs

Gold and Platinum health plans have the most expensive monthly premiums, but they also offer the cheapest out-of-pocket expenses, such as deductibles and copays. So, if you have high expected medical expenses, such as costly ongoing prescriptions, a higher metal tier policy may be your best choice for health insurance.

Silver plans: Best if you have a low income or moderate medical expenses

Silver plans are often the best health insurance option if you're looking for a middle ground to balance affordable premiums and out-of-pocket costs. They also are eligible for cost-sharing reduction (CSR) subsidies for lower-income households, which can help to make your health coverage more affordable.

Bronze and Catastrophic plans: Best for healthy people with emergency savings

Bronze and Catastrophic plans have the cheapest monthly health insurance rates, which make them great choices for young, healthy people with low expected medical costs. We wouldn't recommend these policies unless you have the financial resources to cover the high out-of-pocket expenses in case of an emergency.

Low tiers have the highest deductibles, copays and coinsurance, meaning coverage won't be extended until you've covered these costs yourself. Also note that Catastrophic plans aren't available unless you're under the age of 30 or meet certain exemptions, so this option may not be available to you. Catastrophic plans also are not eligible for premium tax credits.

Medicaid

Michigan expanded Medicaid for residents under the Affordable Care Act (ACA), so depending on your income, you may qualify for Medicaid or a qualified health plan. However, Michigan is different from other states in that if your household income is greater than the federal poverty level and you enroll in Medicaid, you must contribute 2% of your annual income to a health savings account.

Health insurance rate changes in Michigan

Health insurance providers are required to submit any policy premium, deductible and out-of-pocket maximum changes to federal regulators. This occurs on an annual basis and is the reason that you may see a slight uptick in your health insurance costs.

For 2022, health insurance costs in Michigan decreased for most plans by an average of 2%, with Catastrophic plans rising by just 4% compared to 2021.

Short-term health insurance in Michigan

You can purchase short-term health insurance in Michigan, but policies are restricted when compared to the federal guidelines for these types of plans. If you had a short-term plan, coverage would only be provided for up to 185 days and renewals would be prohibited — a new plan would need to be purchased from a different insurer.

Although short-term plans provide a variety of coverage benefits, they do not cover some of the essential benefits including maternity, mental health and prescription drugs. Before purchasing a short-term health plan, you should make sure the policy is appropriate for your needs.

Best cheap health insurance companies in Michigan

For those looking to compare policies, there are currently eight health insurance companies on the Michigan state exchange:

The best cheap health insurance plan will likely be offered by Blue Cross Blue Shield, Priority or Meridian/Ambetter. These companies offer the cheapest Silver health insurance plans in 96% of Michigan's counties.

Cheapest health insurance plan by county

The county where you live in Michigan will determine the health insurance companies and plans available. To help you find your best health plan, we compared monthly rates from every policy in the state to determine the cheapest Silver policy in each county.

Your actual cost of health insurance will vary depending on your age and family size, but we recommend using this as a starting point to determine the most affordable Silver plan near you.

Frequently asked questions