Up to one in six Ohioans age 18-64 did not have health insurance coverage in 2011. Moreover, according to a recent survey, the number of people getting Ohio health insurance at work is declining. The Health Policy Institute of Ohio reports that during 2006-2007 and 2010-2011, there was a 12% decrease in employer-sponsored coverage for Ohioans age 0-64, while the number of uninsured increased 31% and the number of those getting public funded Medicaid coverage rose 19%. As we step into 2013, here are some important things you should know about Ohio health insurance, as revealed by a recent survey:
● From February 2011 and February 2012, average Ohio individual health insurance plan premiums increased from $142 to $152, an increase of 7.0%
● Average individual plan deductible in February 2012 was $3,603, up 6.6% compared to 2011
● Average family plan premium in February 2012 was $324, an increase of 2.5% from 2011
● Average family plan deductible rose to $4538 in February 2012, an increase of 6.6% from 2011
Both individual and family plan premiums increased in Ohio during 2011-2012. At the national level, the average premium paid for individual premiums increased, but the average premium paid for family policies showed a slight decrease of 0.5% during this period.
Other interesting findings of the survey are that the average age of people buying health insurance across the U.S. fell during February 2011-February 2012. This means that a greater number of younger people are now buying coverage. Could this be because of the individual mandate of the Affordable Care Act which requires all Americans to purchase health insurance by 2014 or pay a fine?
Ohio Health Insurance Costs and Benefits
Having health insurance is important. When you enroll in a plan, you get to share the risk of potential hospitalization with other consumers, which makes getting healthcare less expensive for everyone.
In Ohio, health insurance is offered under a traditional or a managed care plan. The traditional health insurance plan, also termed indemnity or fee-for-service health insurance, is one which offers a lot of flexibility and allows you to get health care services through any healthcare provider.
With managed care plans, you can get services only through a select group of healthcare providers called the plan network. Managed care plans include health maintenance organizations (HMOs), preferred provider organizations (PPOs) and point of service plans (POS).
In Ohio, HMOs or health insuring corporations (HICs) are less expensive than traditional plans because of their restrictions on the choice of healthcare providers. The HMO contracts with health care providers to provide members with comprehensive medical services for a fixed, prepaid fee.
With PPOs, Ohio health insurance companies provide the insured with services at a pre-negotiated rate. The members of a PPO plan will to share the costs of medical coverage through deductibles or co-pays. They can see out-of-network providers, but will typically have to incur higher costs such as a deductible for out-of-network expenses and a higher co-payment.
Point-of-service plans (POS) combine features of HMO and PPO coverage. Services are provided within network like HMOs, but members can choose to utilize out-of-network services at a higher cost. Usually, members will need a referral from their primary care physician prior to consulting a specialist.
Buying Health Insurance in Ohio
The best way to enroll in an Ohio health insurance plan is to contact a licensed professional health insurance broker based in the state. Representing various Ohio health insurance companies, a reliable broker can advise you on costs and other issues, and assist you in applying online for suitable Ohio health coverage.
About the Author
Tracy McManamon is a licensed and experienced Ohio health insurance consultant at One Source Benefits. He and his dedicated team represents all the major carriers in the Buckeye State. Visit http://www.onesourcebenefits.com/ or call 877-549-1212 (Toll Free) for details on comprehensive Ohio health plans.
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