First Senate bill of new term to lower auto insurance rates
Legislation seeking to reduce Michigan’s highest-in-the-nation auto insurance rates was introduced in the state Senate on Tuesday. Senate Bill 1 would provide relief for consumers by addressing the root causes of Michigan’s excessive car insurance rates. The bill would allow drivers over the age of 62 the option of allowing Medicare or their other lifetime healthcare benefits to cover medical costs. It would also give younger drivers the ability to choose an amount of coverage that suits their needs and budget. Savings would correspond to the chosen benefit level.
The bill also aims for greater transparency and equity in health provider billing practices. Auto insurers pay significantly more to hospitals and other health care providers than do other insurers for the same treatments and services, which are ultimately passed on to Michigan drivers. The bill was referred to the Senate Committee on Insurance and Banking for further consideration.
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