MI exchange will have more insurance benefits options next year

Michigan's health insurance marketplace, which is part of the federal website HealthCare.gov, will provide residents with more insurance plan diversity during the next open enrollment period, as its list of insurers participating in the exchange is expected to grow.

According to The Detroit News, the Michigan Department of Insurance and Financial Services has already received plans from 18 health insurance companies to be part of the exchange starting Nov. 15. The Hill reported Michigan only had 13 insurers participating in its marketplace last year, which is relatively high compared to other states like New Hampshire and Illinois. The Detroit News reported some state officials are optimistic about this year's exchange because of the increased interest from insurers, even though HealthCare.gov experienced numerous technical issues during last year's open enrollment period.

"I am pleased that Michigan consumers looking for insurance through the Marketplace will have the opportunity to select from even more plans than last year," said Ann Flood, director of the state's department of Insurance and financial services. "Increased competition helps keep premiums lower and provides more choice for Michiganders."