Insurers who plan to participate in the new health insurance exchange are projecting their costs to cover Ohioans to be significantly higher… that’s according to an analysis released Thursday by the Ohio Department of Insurance.
State officials said that means people should also brace for potentially higher costs when purchasing coverage through the new insurance marketplace created by President Barack Obama’s health care law.
The state analysis did not look at insurance premiums — the prices individuals would pay. The review examined the cost to insurers to provide the required benefits in the exchange.
Consumers can get private health insurance, subsidized by the government, through the exchange. Open enrollment starts Oct. 1, and coverage takes effect Jan. 1, 2014.