Health insurance companies are scrambling to protect their businesses in the wake of the health care law’s repeal, and the insurance market is already struggling with a patchwork of rules and regulations.
But in addition to the potential for insurers to face hefty rate increases, some states and insurers are already preparing to offer more affordable insurance options.
Here are some key takeaways from the latest health insurance news in OHIO.
OHIO has been a state that has been struggling with the law’s implementation, and a new wave of coverage is making it less affordable than expected, according to a new report from Bloomberg.
Ohioans who are uninsured have seen their monthly premiums double in the past year, according a study by the Kaiser Family Foundation.
But the cost of premiums in 2018 is expected to be more affordable than in 2019, when the state experienced its biggest premium increase in three years.
Ohio also experienced a 2.5 percent increase in the number of people who are covered under private health insurance in 2018, a rise that is likely to continue in 2019.
Ohioans who don’t have health insurance are expected to see their monthly premium increases more than double in 2018 due to a wave of new coverage under the Affordable Care Act, according an analysis by the Urban Institute.
That includes a doubling of the cost for those who are eligible for the Ohio Health Plan and Ohio Health Savings Account.
The Ohio Health Plans’ average monthly premium in 2018 was $13,638, while the average for the OHIPA was $2,724, according the Urban Initiative.
In addition to being the most expensive state for insurance, Ohio is also the state with the lowest per capita health care spending, according Kaiser Health News.
It is estimated that the state spends about $12 per capita on health care, less than a third of the $16.4 billion spent by the United States as a whole.
The state also has the highest percentage of uninsured people in the nation.
According to the Kaiser Health Foundation, Ohioans with employer-sponsored health insurance, who are making less than $20,000 a year, are expected in 2019 to spend $8,927 per year on premiums, the most of any state.
The state is also expected to continue to struggle with the impact of the new law’s Medicaid expansion and the tax increases expected to come with it, according in a report by the Center for American Progress.
Ohio’s Medicaid program will have a $6.7 billion hit by the end of 2019, up from $4.4 in 2018.
And the tax increase on high-income earners, which is expected in 2020, will cost $1.2 billion, according for the center.
The number of Ohioans on the state’s Medicaid rolls is projected to grow by almost 1 million in 2019 and 2020.