I’ve linked below to an excellent article from Bloomberg.  This situation is real, and will have a huge impact on many Michigan residents who are benefiting from the 65% COBRA subsidy.  When the nine month subsidy is exhausted, the decision will have to be made to continue COBRA and pay 100%,  look for alternative coverage on the individual market, or go uninsured.

The people who should be most concerned are those with pre-existing medical conditions.  The only option they have is to continue on COBRA paying 100%.  Blue Cross of Michigan will offer individual coverage, but has a 6-month pre-existing condition waiting period for people who do not exhaust all 18 months of COBRA coverage.  Scary!

Accepting the COBRA subsidy may not have been the wisest move for people with pre-existing conditions who are unable to find new employer sponsored coverage after the 9 month subsidy comes to an end. 

The below article sums up the situation.  Feel free to call www.MichiganIndividualPlans.com for answers on how this will affect you situation personally.  866.791.5689

http://www.bloomberg.com/apps/news?pid=20601103&sid=aJrjiHkpr7lk

Blue Cross of Michigan has been fighting for a rate increase for more than 6 months.  They originally filed and asked for roughly a 70% increase.  The Office of Finacial and Insurance Services has approved a 22% rate hike effective 10/1/2009.  This will raise rates for all non-group, individual Blue Cross policy holders. Read the rest of this entry »

Family Medical Insurance Protects Family Health, Financial Future

ARROYO GRANDE, Calif.–(BUSINESS WIRE)–An increasing number of families are removing family medical insurance from their budgets in an effort to cut costs. Reports estimate that 50 million Americans go without medical insurance, leaving families vulnerable to financial struggles that can result from unexpected medical expenses. Read the rest of this entry »

Blue Cross offers three Health Saving Account (H.S.A.) qualified plans.  Here is a list of reasons why you should consider opening a Health Savings Account: Read the rest of this entry »