By Maggie Thurber | for Ohio Watchdog
Ohioans who plan to purchase insurance through the federal government’s health exchange can expect a 41 percent jump in premiums in 2014 due to requirements of the Affordable Care Act.
The Ohio Department of Insurance analyzed 200 department-approved health insurance plans that will be available through the exchange and found the average cost for individual plans will rise from $236.29 per month in 2013 to $332.58 per month next year.
For the small group market, the cost is expected to be 18 percent higher, increasing from the 2013 average of $341.03 per month to $401.99 per month in 2014.
“Ohio has traditionally had a more competitive health insurance market than other states with a wider range of prices and choices — from simple, high deductible coverage to comprehensive, full service plans,” said Lt. Governor Mary Taylor, who also serves as director of ODI. “That level of diversity is essentially outlawed under Obamacare so Ohio’s rates and premiums are going up significantly, and going up more than in other states where prices were already high.”