Ohio is one of the 33 states, which had decided to default to Federal Government operated Ohio Health Exchange. In a recent press release, the Ohio Department Of Insurance has announced that, 14 insurance companies have submitted proposed rates information for a total of 214 different Qualified Health and Dental Plans to sell through Ohio Insurance Exchange.
The Department’s initial analysis of the individual health plans proposed rates shows that insurance company’s rate will be significantly higher for Ohio residents.The Department Of Insurance is estimating an average increase of whopping 88% and it is expected that these increases in rates will also results in significant higher health insurance premiums for many Ohioans.
What is confusing with above press release is that it does not say increase is from what previous rates, for which age group and for what kind of health plans. Also this analysis didn’t take into account the government subsidies that many Ohioans will qualify. We decided to extract some rates information in this post to get a better idea.
In the press release Lieutenant Governor Mary Taylor mentioned that, they have warned about these increases are going to happen and illustrated to a state-specific study done in, 2011 which showed that Ohio health insurance rates will be significantly higher because of the ObamaCare.
In another fact sheet (PDF) released along with the press release, it is mentioned that Governor John Kasich and Lt. Governor Mary Taylor have always supported repealing the Affordable Care Act and replacing it with something that actually can reduce costs and provide with the flexibility, state and Ohio residents need, to address their unique healthcare circumstances.
Reasons Mentioned For Increase in Rates:
This fact sheet (PDF) mentions the reason why health insurance prices will be higher due to ObamaCare, You decide for yourself if they make sense.
Rating Areas For Ohio Health Exchange:
The exchange health plans vary based on areas. Ohio is divided into following 17 rating areas:
|1||Defiance, Fulton, Henry, Lucas, Williams, Wood|
|2||Allen, Auglaize, Hancock, Hardin, Mercer, Paulding, Putnam, Van Wert|
|3||Champaign, Clark, Darke, Greene, Miami, Montgomery, Preble, Shelby|
|4||Butler, Hamilton, Warren, Adams, Brown|
|5||Clermont, Clinton, Highland Erie, Huron|
|6||Ottawa, Sandusky, Seneca, Wyandot|
|9||Delaware, Fairfield, Fayette, Franklin, Knox, Licking, Logan, Madison, Pickaway, Union|
|10||Galia, Jackson, Lawrence, Pike, Ross, Scioto, Vinton|
|11||Ashtabula, Cuyahoga, Geauga, Lake, Lorain|
|12||Ashland, Medina, Portage, Summit|
|13||Columbiana, Mahoning, Trumbull|
|16||Belmont, Coshocton, Guernsey, Harrison, Jefferson, Monroe, Morgan, Muskingum, Noble, Perry, Tuscarawas|
|17||Athens, Hocking, Meigs, Washington|
Companies Offering Health Plans In Ohio Health Exchange:
Following are the list of companies offering health insurance plans in Ohio Health Exchange. The plans will be available for enrollment starting Oct 1, 2013. (I have obtained some health rate filing documents and add for some health carriers, more are available on department of insurance website.)
|1||Aetna Life Insurance Company||Atena Rate Filing|
|2||AultCare Insurance Company||AultCare Rate Filing|
|3||Buckeye Community Health Plan|
|5||Coordinated Health Mutual Inc.||Coordinated Rate Filing |
|6||Coventry Health and Life Insurance Company (Health America)||Coventry Rate Filing|
|7||Humana Health Plan of Ohio|
|8||Kaiser Foundation Health Plan of Ohio|
|9||Medical Health Insuring Corporation of Ohio|
|11||Molina Healthcare of Ohio|
|12||Paramount Insurance Company|
|13||Time Insurance Company|
|14||United Healthcare Insurance Company|
Ohio Health Exchange Rates Information:
Projected costs from the companies for providing coverage for the required essential health benefits ranged from $282.51 to $577.40 for individual health insurance plans.
Following shows some rates for different age group and rating area for silver plan, non smoker individual, you can search for rate filing yourself at Ohio department of insurance website at http://insurance.ohio.gov/Company/Pages/RecordsRequest.aspx:
|AultCare 700 50 (70% Actuary Value) Silver||15||$251.69||$321.66||$449.52||$683.08|
|Coventry Silver $10 Copay PPO||10||$242.92||$310.45||$433.86||$659.29|
|Coordinated Health Silver S2000‐30‐70‐6250||10||$221.36||$282.89||$395.34||$600.76|
See this 2013 federal poverty level table to find out if you can qualify for healthcare subsidies based on your income. Although it is a law now to have healthcare coverage in 2014 or pay file at the tax filing time, some people are exclude. See this post to find out who is not required to have health insurance in 2014.