Mich. Comp. Laws § 500.3474a

Current through Public Act 122 of the 2024 Legislative Session

Section 500.3474a - Premium rate after January 1, 2014; basis; factors

The premium rate charged by an insurer, health maintenance organization, or nonprofit health care corporation for health insurance coverage offered through a policy or certificate delivered, issued for delivery, or renewed in this state on or after January 1, 2014 in the individual or small group market shall vary based on the following factors only:

(a) Whether the policy or certificate covers an individual or family.

(b) The rating area.

(c) Age, except that the premium rate shall not vary by more than 3 to 1 for adults for all plans other than child-only plans.

(d) Tobacco use, except that the premium rate shall not vary by more than 1.5 to 1.

MCL 500.3474a

Added by 2013, Act 5,s 7, eff. 3/18/2013.