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Health insurance premiums going up 27% in Michigan

 

Premiums are expected to rise an average of 27 percent for the hundreds of thousands of Michigan residents who buy their own health insurance.

 

Consumers eligible for income-based tax credits will be protected from the premium increases.

 

The state Department of Insurance and Financial Services published the rates on Wednesday.

 

Enrollment for 2018 begins in a week.

 

The state says the premiums are higher than expected because President Donald Trump recently ended cost-sharing payments to insurers for providing lower-income customers discounts on out-of-pocket costs. 

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