Ohio Health Insurance

Ohio Health Insurance

Since 2011 health insurance has been drastically changing. One thing that will be changing in 2014 in Ohio are the options for buying health insurance.  The new option will be, “buying through an exchange”. Buying through an exchange is going to be an option for those buying coverage on their own or for small companies purchasing insurance for their employees.

A change you will see when looking at exchange plans is that the aim will be for consumers to start looking at the price of the plans, and not as much at the benefits. It will still be important though for consumers to know what benefits their plan includes.  An interesting thing about the exchange program is that the premium for the plans will no longer be based on the health conditions of the person purchasing the plan, but instead on their age, location and number of people on the plan. Because the premium will no longer be based on health condition, people will have a broader selection of plans they can choose from, with different premiums and different benefits. The plans offered will have to include at least the “essential health benefits”.

“One issue raised with the exchange plan is there being a potential problem with ‘risk selection’. The concern being that the sicker-than-average person could end up in the exchange. The solution to this would be to require that any insurance sold outside the exchange would have to comply with similar rules being used inside the exchange. This would include guaranteed availability of coverage and limits on the extent to which premiums can vary by health status.”

There are a few differences that should be looked at, between the health insurance Ohio plans today and those that will be available through the exchange. First, the people the state has deemed eligible will sell both plans, but the exchange plans will only be available for certain people. Second, with the new exchange plans some people will be able to receive subsidies for earning 133%-400% of the federal poverty level. You cannot receive that with plans today. These are all changes to look out for as we near the year 2014. It will be very helpful as well to have a great understanding of how the changes affect you, your family, or your business.

It is not too early to lock in an Ohio health insurance plan through an experienced independent Ohio based agency. By doing this, you may be able to avoid a government run health plan, which may be the best solution for you. This will probably be a lot less expensive with greater access choices and ad control for you, your family or small business.

Health Insurance in Ohio

Read the newspaper, or turn on the radio or TV and you will soon discover that there are many changes being put in place for health insurance in Ohio in the next few years. The best thing that you can do is to keep yourself informed, so you are not taken by surprise by any of the changes.

What to expect in 2011: There will be a certain amount of premiums that insurance companies will have to spend on medical care and programs, not on administrative costs. If this is not done, rebates will be due to consumers. Insurance companies are required to issue the rebates by August 1, 2011 and they will then be received by the consumers by August 1, 2012.

What to expect in 2012: In 2012, shopping for health insurance will no longer be the hassle that it has been in the past. If you are looking for health insurance, you will be able to receive a “Summary of Benefits and Coverage”.  The layout of the summary will make it very easy to read and it will give examples of certain medical conditions and the coverage you would receive if you had those conditions. A list will also be given to you that will explain complicated words, such as “deductible”, “copay” and “coinsurance”. The next change will be that you will be notified 60 days in advance before any new rules or benefits affect your plan, which allows time for you to adjust to the change and plan ahead.

What to expect in 2014: Changes during 2014 will mostly affect those who buy coverage in the individual health plan market. If you buy their own insurance, one of the most helpful things that will happen is that you will no longer be turned down because of a health problem or a history of health problems. Also, the premium will not be based on the condition of your health but instead on “how many people the plan is covering, their ages, where they live and if they use tobacco”. A health insurance “exchange” program will also be implemented. The exchange program will vary from state to state, so you will want to research how it will affect Ohio as the time grows closer. The exchange program is being created to give individuals and small companies a variety of insurance plans to choose from, and a better understanding of the plans. The last change expected in 2014 will be that legal residents in America will be required by law to have a health insurance plan. To prove that you have health insurance you will need to show evidence of it on your tax return.

There are many changes, as you can see, that are expected to arise in the next few years. Remember to stay up to date on how these changes will affect you and your family. For some, these changes will be a very positive thing, whereas others may have to start paying more for insurance then they ever have in the past. Whatever your situation may be, we will be doing our best to keep you informed so that you are still receiving the best coverage for you, your family and your business.