Blue Cross Blue Shield report highlights state of health insurance rates in Michigan
Michigan’s Blue Cross Blue Shield has released a new study concerning the pace at which health insurance rates are rising in the state. In Michigan, and many other states in the U.S., health insurance rates are on the rise. Some claim that this is due to the federal health care law that has caused a somewhat dramatic shift in regulations. Many insurers claim that rates are only rising to account for the cost of medical care. Whatever 
the case may be, these rates are putting extreme financial pressure on consumers. Blue Cross Blue Shield suggests, however, that relief may come in the form of rates rising at a slower pace.
Rates are rising slower for 2013
According to the insurer, the slowing trend being seen in health insurance rates may be particularly beneficial to small businesses. Blue Cross Blue Shield notes that small businesses in 2013 are likely to see the cost of the health insurance plans they offer to employees become only slightly more expensive, as the pace at which health insurance rates have been increasing has diminished over the past two years. As such, small businesses can expect an average premium increase of just 7.5% in January 2013.
Lack of healthy living policies could end up driving up costs for insurance
Though health insurance rates are growing at a slower pace, Blue Cross Blue Shield notes that coverage may end up being more expensive in the near future because of the health habits of Michigan residents. The study suggests that there is a major lack of policies in place, both in businesses and from the state government, that encourage healthy living. Because these policies are so absent, many consumers may not have the information they need to live healthy lifestyles. An unhealthy lifestyle can put a person at risk for serious medical conditions, none of which insurers are keen to cover in their entirety.
Turmoil caused incomplete implementation of federal health care law
Health insurance continues to be a tricky subject in the U.S. Studies suggest that health insurance rates are dropping in some parts of the country, while other suggest that coverage is actually becoming more expensive. Much of the turmoil that the health insurance industry is seeing currently is due to the Affordable Care Act, and not necessarily because of the changes it is making, but because not all of these changes will take effect until 2014.
