Health costs to spike in Ohio individual market, study projects

A study released this week by the Society of Actuaries projects that the cost of health care for Ohioans who buy individual health plans will increase by more than 80 percent by 2017 under the ACA (Source: "Study: Some health-insurance costs may jump 80%,” Columbus Dispatch, March 28, 2013).

According to the study, Ohio would see the largest percentage increase in the individual insurance market in the country because, in part, the state has one of the lowest average costs now. The study projects that the average monthly cost of medical claims per person would increase from $223 to $403, but would remain below the national average of $413.

A 2011 study by Milliman Inc. that was commissioned by the Ohio Department of Insurance projects that in 2017, about 735,000 Ohioans, or about 7.3 percent of those with insurance coverage, will get their coverage in the individual market.  

Nationwide, the cost of medical claims is expected to rise 32 percent over the same period.