Average Ohio marketplace rates to increase 12 percent, ODI reports

The Ohio Department of Insurance approved rates this week for 2015 coverage through the federally run marketplace, and they are 12 percent higher, on average, than the rates during the last open enrollment period (Source: “Obamacare premiums in Ohio might not rise as much as thought,” Columbus Dispatch, Aug. 7, 2014).

For individual plans, the average premium for all marketplace plans will be about $373 per month in 2015, compared with $333 this year. The averages include rates all plans, including those that are expected to have few enrollees.

The data released Wednesday do not factor in discounts that many consumers will see in their premiums next year. About 85 percent of the 154,668 Ohioans who signed up for 2014 marketplace plans are receiving tax credits averaging $250 per month, with Ohio residents getting a total $32 million in credits per month.