DETROIT, Feb. 26, 2015 /PRNewswire/ -- In one of the nation's most competitive markets for health insurance coverage, 225,000 Michigan residents selected individual health insurance plans offered by Blue Cross Blue Shield of Michigan or Blue Care Network on the Marketplace during the second annual open enrollment period that concluded Feb. 15. Adding in members that enrolled off Marketplace, directly through the companies, Blue Cross estimates its combined enrollment at over 323,000 in individual health plans.
About 341,000 Michigan residents in total selected health plans on the Marketplace from among the 16 health insurers offering them. The number of health plans offering coverage in Michigan makes the state one of the most competitive markets in the country.
"In a dynamic retail marketplace, Blue Cross coverage was the leading choice of Michigan residents. We are very thankful for the trust people continue to place in us for their health coverage," said Daniel J. Loepp, president and CEO, Blue Cross Blue Shield of Michigan. "It's particularly gratifying – in our first year as a nonprofit mutual insurer – that we were able to offer a diverse array of product choices and that the Michigan Marketplace offered a record number of insurance competitors. These are good things for consumers."
Sixteen insurers offered products on the 2015 Marketplace, making Michigan tied for the most competitive state on Healthcare.gov. Michigan ranks third-highest in the nation for the average number of product choices per county, with 64 options.
"Michigan residents had more options – from price to network – when choosing a health plan, and they overwhelmingly chose Blue Cross," said Terry Burke, vice president for individual business at BCBSM. "Like our competitors, Blue Cross saw what products worked with consumers in 2014, and made changes that consumers wanted to see. Michigan is truly a competitive, retail market."
Blue Cross Blue Shield of Michigan, a nonprofit mutual insurance company, is an independent licensee of the Blue Cross and Blue Shield Association. BCBSM provides and administers health benefits to more than 4.4 million members residing in Michigan in addition to employees of Michigan-headquartered companies who reside outside the state. For more company information, visit bcbsm.com and MiBluesPerspectives.com.
SOURCE Blue Cross Blue Shield of Michigan