Important Changes Will Impact Health Coverage for Michigan Residents

Health care coverage is about to change for some of Michigan most vulnerable residents. With new legislation residents can expect to pay more for their prescriptions.

Here's What Michigan Residents Should Know:

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We all know the American health insurance system is flawed but it's one of life's necessary evils. Those without health insurance wish they had it, and those with health insurance wish they knew how it worked.

Over the course of the next few months some residents throughout Michigan, and the rest of the country, can expect to receive notice from their health insurance provider regarding the upcoming changes that will take place in the new year.

As if the health care system wasn't already confusing enough!

According to Reuters nearly 70 million Americans are covered by Medicaid and another 65 million are covered by Medicare-- how will these plans look different beginning January 1, 2026?

Personal finance and business site Kiplinger say Michigan Medicare users can expect 6 new changes in the new year including:

• Prescription payment plan updates including automatic renewal
• Cap on Part D expenses
• Limited supplemental benefits for the chronically ill
• Capped insulin costs
• Zero cost-sharing for adult vaccines
• Prior-authorizations for select states required (New Jersey, Ohio, Oklahoma, Texas, Arizona, and Washington)

As with most goods at the moment you can expect prices for over-the-counter and prescription drugs to increase with inflation. Data shared by GoodRX shows prescription costs alone have increased nearly 40% over the past decade, since 2015.

What will those same drug prices look like in another ten years?