Michigan rated No. 1 for lowest health care expenses nationwide

November 09, 2022 : Roughly half of adults in America labor to afford health care costs. About four in ten say they have slowed or gone without medical care in the past year due to expense, according to a July 2022 poll executed by the Kaiser Family Foundation, a nonprofit concentrated on national health issues.

But Michigan transcends the list of states where healthcare is most reasonable, a November 2022 study by Forbes said.

The Forbes Advisor team behind the study employed the Kaiser Family Foundation data and discovered that Michigan ranks No. 1 for the lowest healthcare expenses nationwide. The team scrutinized data on all 50 states and the District of Columbia.

Mark LoCastro, a representative for Forbes Advisor, stated a few findings for the state:

  • Michigan’s five-year growth in health care expense per person (13.67%) was the sixth lowest in the country.
  • Michigan citizens with employer-provided health insurance pay some of the lower premiums and deductibles in the nation. The average worker with plus-one coverage in Michigan spends a premium of $3,261.33 a year, and workers with a family plan spend $4,199.67 yearly (the lowest average in the nation).
  • Michigan residents with family health coverage via an employer have the third-lowest moderate deductible in the country ($3,078.67 a year), and single workers have the fifth-lowest deductible ($1,675.67 a year).
  • Michigan citizens with individual health insurance programs from the Affordable Care Act marketplace have the fourth lower average annual premium ($4,092 yearly).

 

In Michigan, open registration on the Health Insurance Marketplace starts on November 1, 2022, and goes through January 15, 2023. As per the state, customers should select a plan by December 15, 2022, for coverage to begin on January 1, 2023.

The five leading most affordable states include Washington, Hawaii, Nevada, and New Mexico.

The average Washington worker with single health insurance coverage spends an annual premium of $1,139.67 (the third lowest amount nationally), employees with plus one coverage give $3,388.67 (the second lowest portion), and those with a family plan spend $5,121.67 (the double lowest share).

And adults in Hawaii were least possible in the nation to report ignoring a doctor’s visit in the past 12 months owing to cost (7.10%).

Which states spend the most for health care?

South Dakota outperforms the list of states where healthcare is most costly, followed by Louisiana, West Virginia, Florida, and Wyoming.

“The eastern part of the nation is where you may discover the most expensive health care costs,” the Forbes study stated. “Five of the 10 most pricey eastern states for medical care are West Virginia, Maine, Florida, Delaware and New Hampshire. The western part of the country has numerous of the cheapest states for health care, include Washington, Hawaii, Nevada, New Mexico and Oregon.”