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Michigan residents can expect to pay an average of $406 per person* for a major medical individual health insurance plan. Prices will vary and premiums can be lower if you are in good health.
Key Takeaways. A certificate of insurance (COI) is issued by an insurance company or broker and verifies the existence of an insurance policy. Small business owners and contractors typically require a COI that grants protection against liability for workplace accidents or injuries to conduct business.
Employers with 50 or more employees are required to provide health coverage to employees and their dependents. Failure to offer affordable coverage may subject an employer to a tax penalty and allow the employee to obtain a tax credit in the Health Insurance Marketplace.
Confirmation of Coverage means the accompanying document that outlines Your benefits and Maximum Benefit amounts.
Confirmation of Cover means the individual certificate of insurance issued to the Insured. It describes in general the insurance protection to which the Insured is entitled but shall form part of the contract between the Company and the Policyholder.
A certificate of coverage (CoC) is a contract that lists an individual's health insurance coverage with their payor. The CoC details the health benefits the beneficiary and their dependents have under their plan. Details include exclusions and conditions.
Definition of 'proof of coverage' A policyholder's proof of coverage is a document from an insurer stating that they have insurance coverage. Some states with compulsory insurance require proof of coverage when a vehicle is registered and when a driver is stopped for a traffic violation.
Individuals are eligible for the Healthy Michigan Plan if they: Are age 19-64 years. Have income at or below 133% of the federal poverty level* (about $18,000 for a single person or $37,000 for a family of four) Do not qualify for or are not enrolled in Medicare.