Uncertainty in Washington about the future of the Affordable Care Act is leaving many Michigan consumers in the dark on how much they will paying for health coverage next year.
President Trump is threatening to withhold payments to insurance companies that help make coverage affordable for people who buy their own health insurance. More than 300 thousand people in Michigan buy their coverage on exchanges set up under Obamacare.
Andrea Miller of the Michigan Department of Insurance and Financial Services says now insurance companies can’t set their rates and submit them to the states for approval.
“So we’re hoping that we can get through this uncertainty.”
She says insurance companies need to see what happens before they can set their rates for the state to approve.
“We needed the flexibility to post these at later date to deal with the uncertainty at the federal level.”
“Our department asked for the extension to allow our staff flexibility due to the uncertainty at the federal level, particularly with the cost-share reduction issue.”
Miller says nine insurance companies that sell coverage on the exchange were supposed to submit their proposed rates this week. Miller says now that will happen no sooner than September.