Michigan Gov. Gretchen Whitmer sent a letter Aug. 18 to the Michigan Department of Insurance and Financial Services that requires all payers in the state to lower their already filed 2023 health insurance rates.
Ms. Whitmer said the order comes after the Inflation Reduction Act extended ACA premium subsidies through 2025.
The new law extended insurance premium subsidies, which are currently saving hundreds of thousands of Michiganders nearly $800 a year," she wrote in the letter. Today, I am instructing DIFS to require all insurers that offer coverage on HealthCare.gov to submit revised rates that reflect the cost savings as a result of enhanced subsidies."
In 2022, about 260,000 people in the state have taken advantage of the tax subsidies.