Individual Insurance Market in Michigan

World news

Individual Insurance Market in Michigan

More Than 40 Hospitals Offer Assistance for Reforms in Individual Insurance Market in Michigan

Lansing, Michigan, December 3, 2008: Consumers for Fair and Affordable Insurance Reform (CFAIR) is happy to declare four principal hospital systems which comprises 41 hospitals, are backing up the necessity for restructuring of the individual insurance market in Michigan.

The President and Chief Executive Officer (CEO) of Beaumont Hospitals, Ken Matzick and a number of other hospital administrators sent a letter to the state lawmakers, which mentions that the present regulatory arrangement for individual health insurance in Michigan requires urgent reforms. It is a matter of concern that while the individual health insurance market is constantly flourishing, Blue Cross and Blue Shield insurance company, functioning as the only remaining option, may not have the capacity to price healthcare coverage at a reasonable rate and may not have the strength to financially withstand the escalating losses in the insurance sector. For numerous residents of Michigan who do not have any other alternative to go for coverage, the prospect of healthcare coverage would be put at risk. It is vital that market restructuring also offers the necessary protection to the consumers (patients and citizens) and assists to guarantee the future feasibility of healthcare funding in Michigan.

The Executive Director of CFAIR, John Truscott stated that the consequences of flawed suppositions from the government in handling the economic sectors have been noticed clearly and lessons should be learnt from the success of the banking sector. He added further that there is a fair opportunity in Michigan to steer clear of a major crisis in the days to come by carrying out a few basic amendments to rules which are going on for 30 years or more. The moment has come to act.

The hospitals which have posted letters to corroborate reforms in individual insurance market include the following:

Charlevoix Area Hospitals
Beaumont Hospitals
Chippewa County War Memorial Hospital
Chelsea Community Hospital
Marquette General Health Systems
Dickinson County Healthcare System
Michigan Health Ministries of Ascension Health
Metro Health Hospital
Trinity Health System
Portage Health
The University of Michigan Health System

CFAIR or Consumers for Fair and Affordable Insurance Reform is a diverse association of healthcare institutions, unions, businesses, consumer activists and others who patronize reforms in individual health insurance in Michigan. Details regarding the individual health insurance restructuring can be obtained from their official website.

By AmPmInsure Community

Latest News

Star stuff

Individual Insurance Market in Michigan