It is estimated that in the state of Michigan there are 1.2 million people who are without health insurance. This number is thought only to grow as the economic recession continues to eliminate jobs. As a result, state lawmakers are making efforts to restructure Michigan’s health care coverage.

Currently the Democrats are proposing a plan they call “Michigan Catastrophic Protection Plan” (MCPP). The plan intends to help alleviate the financial burden of medical bills endured by individuals with catastrophic ailments by creating a new fund. Specifically, the plan would assist people facing more than $25,000 in medical costs by reimbursing the insurance companies for claims ranging from $25,000 to $250,000.

How will the MCPP fund be financed? Michigan insurance companies would collectively contribute to these claims, essentially insuring one another from catastrophic claims. There has been some apprehension to this proposal; namely, many insurance agents fear that such a transition will eventually run the major carriers out of the state since the of the extra risk assumed in this state.

The Republican Party has introduced a proposal they call “Insure Michigan.” With so many individuals uninsured, they believe one remedy will be to create more affordable health insurance policies. Their targeted audience will be Michigan families who are making anywhere between $19,000 and $43,000 annually. To achieve this, creating a manner in which to subsidize the cost of health insurance is crucial.

If you are wondering whether or not you have the most competitive plan on the market, or if there are affordable individual health insurance plans available in your area, MyInsuranceExpert can help. MyInsuranceExpert works only with “A” rated carriers, and have licensed advisors eager to help you compare plans to best fit your needs.