Officials Say Average Insurance Premiums Could Increase

By
Associated Press

Dateline
Updated Fri, May 30, 2014 8:39 am

Ohio insurance officials say residents buying health coverage through the federal marketplace could see a 13 percent increase in average insurance premiums next year compared to this year.

The Ohio Department of Insurance released details Thursday of the proposed average premiums from insurers seeking to offer plans on the new insurance exchange. Final rates for next year won't be available until August, after the agency approves them.

The figures are averages of proposed rates. Some rates could be lower and others higher. It's unclear what an individual consumer will encounter.

The state's figures also do not take into account federal subsidies or other factors that could change the price.

Those shopping for 2015 plans could see more competition. Sixteen companies want to offer plans, while 12 are selling this year.

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