Obamacare costs soaring in recent rate checks

By M.D. Kittle | Wisconsin Reporter Ask Ohio how affordable the Affordable Care Act will be. Buckeye State insurers expect to see the cost of essential health care benefits for individual coverage in Ohio’s exchange to soar on average 88 percent next year, according to a new analysis from the Ohio Department of Insurance. The department analyzed individual market plan proposals from insurers against a Society of Actuaries report earlier this year that found Ohio and Wisconsin hold the dubious honor of ranking No. 1 and No. 2, respectively, on the list of states expected to be hardest hit by claims cost increases under Obamacare. Badger State insurance rates are predicted to climb as high as 80 percent by 2017, while Ohio could see an 80.9 percent hike in insurance costs, according to the Actuaries. A total of 14 insurance companies filed proposed rates for 214 different plans with the department, according to the Ohio Depaertment of Insurance. Projected costs from the companies for providing coverage for the required essential health benefits ranged from $282.51 to $577.40 for individual health insurance plans. “We have warned of these increases since a state-specific study in 2011 indicated Ohio would be significantly impacted by the ACA,” Lt. Gov. Mary Taylor said in a statement. Get the full story at WisconsinReporter.com http://bit.ly/1911JbR