Last week, the Ohio Department of Insurance (DOI) announced proposed rates for individual plans that will be offered on the new Ohio Health Insurance Exchange. With individual health insurance policies becoming guaranteed-issue in 2014, rate increases are expected in the individual market. However, everyone is looking closely to see how much rates will increase in 2014 with the new Affordable Care Act regulations.
Ohio Health Insurance Exchange - Proposed Rates
The proposed rates are based on 214 individual health insurance plans filed by 14 companies. Insurance companies had until June 1 to file their plans and rates for policies sold on the new Ohio Health Insurance Exchange.
Click here to read the Ohio Department of Insurance press release.
Ohio Health Insurance Exchange - Proposed Carriers
According to the Ohio DOI, the following insurance carriers have submitted intent to offer individual plans on the Ohio Health Insurance Exchange:
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Aetna Life Insurance Company
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AultCare Insurance Company
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Buckeye Community Health Plan
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CareSource
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Coordinated Health Mutual, Inc.
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Coventry Health and Life Insurance Company (Health America)
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Humana Health Plan of Ohio
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Kaiser Foundation Health Plan of Ohio
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Medical Health Insuring Corporation of Ohio
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Medical Mutual
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Molina Healthcare of Ohio
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Paramount Insurance Company
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Time Insurance Company
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United Healthcare Insurance Company
The Ohio DOI will review and approve all plans, and will finalize plans and rates later this summer. The Ohio Health Insurance Exchange will open for enrollment October 1, 2013, for coverage beginning January 1, 2014.
Click here to view the public HFAI filings.
