Ohio Insurance Department Says Premiums Will Increase Under PPACA

Premiums in Ohio will increase an average of 41 percent for individual consumers purchasing coverage through the state's federally facilitated health insurance exchange, according to the Ohio Department of Insurance.

The average individual plan cost will go from $236.29 per month in 2013 to $332.58 in the exchange marketplace in 2014, according to state officials. Small businesses purchasing coverage through the exchange will see their premiums go up by 18 percent on average in 2014 to $401.99 per month, compared with $341.03 in 2013. The Ohio Department of Insurance released these figures after using a National Association of Insurance Commissioners report to compare premiums.

The state has approved 12 companies offering 200 different plans to participate in the exchange. For small group insurance plans, the state has approved six companies offering 184 plans.

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