Michigan Department of Insurance and Financial Services (DIFS) Director Anita Fox is applauding Congress and the Biden Administration for enacting the Inflation Reduction Act which, in part, will extend increased Health Insurance Marketplace premium subsidies for another three years. These subsidies, first expanded by the American Rescue Plan, have enabled 4 out of 5 enrolled Americans to find health insurance for less than $10 per month on HealthCare.gov.

Expanded premium tax subsidies for Marketplace health plans increased the amount of financial help available to those already eligible and extended subsidies to middle-income people, many of whom were previously unable to afford coverage. These subsidies were originally set to expire later this year, and in June, Gov. Gretchen Whitmer called on Congress to continue the expanded subsidies. As part of the Inflation Reduction Act, which was signed into law by President Joe Biden, these subsidies have been extended until at least 2025.

During open enrollment, Michiganders will be able to choose from 233 health plans on the Marketplace, 59 more than last year. For the overall individual market, which includes off-Marketplace plans, 308 plans will be available, 52 more than last year.

For questions or concerns about health insurance coverage in Michigan, contact DIFS at (877) 999-6442, Monday through Friday from 8 a.m. to 5 p.m. or visit Michigan.gov/HealthInsurance.