Your State Government's Oversight of Health Insurance in Michigan
The State Government of Michigan is responsible to state resident for developing and overseeing health insurance requirements and regulations for the state. In fulfilling this goal, the State Government generally tries to balance consumer rights with an economic environment that promotes strong economic growth. In the area of health care insurance, the State Government addresses three major constituents: resident consumers, insurance companies, and licensed brokers.
The State Government's main method for assuring a legitimate health insurance market is the professional licensing and management of insurance companies and insurance brokers. For insurance companies, the Government prepares minimum requirements for health insurance products and requires routine financial statement audits, to assure that taxation requirements are satisfied. For independent insurance brokers, the Government establishes professional and licensing requirements, manages license testing and license issuance for brokers, oversees continuing education criteria, and performs collections on broker license fees. The State Government is also in charge of looking into insurance-related fraud, especially when it affects consumers or when harmful to the local business environment.
For consumers, the State Government offers public information guidelines to help state residents locate their best insurance options. The State Government also helps consumers file disagreements and appeals with their health insurance company when a dispute happens over the insurance policy coverage. Finally, the State Government is charged with implementing the State version of the Federal Medicare program where Federally funded health insurance is offered to children who do not have health insurance, uninsured individuals, senior citizens, or the self-employed.