Federally Run Health Insurance Exchange for Ohio by onesourcebenefits


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									              Federally Run Health Insurance Exchange for Ohio
Ohio will have a federally run health insurance exchange by 2014. The aim is to help people to find
affordable Ohio health insurance plans, but the effects of the new system will be known only after
it becomes operational

Ohio will have a federally run health insurance exchange by 2014. This follows the decision
by the governor not to implement a state-based exchange to sell Ohio health insurance.
The setting up a federal health exchange is a major change as traditionally, states have
controlled the private health insurance market.

Obamacare visualizes the health exchange as a regulated virtual market where individuals
and small businesses can find private Ohio health insurance plans. Providing personal
information such as age, family size, income and ZIP code will help determine what plans
will be available to them. They can get an Ohio health insurance quote and apply for a
suitable plan through the exchange.

The exchange will be a place where they can compare plan benefits, healthcare service
provider networks, and common medical treatment costs. Low income Ohioans can enroll
in Medicaid and also avail of subsidies to purchase health insurance.

Health insurance tax credits will be available for people who earn up to four times the
federal poverty level ($44680 in 2012). If the health exchange program is allowed to
expand, Ohioans who earn up to 133 percent of the poverty level ($14,856 in 2012) will be
eligible for Medicaid.

All health insurance Ohio sold on the exchanges will feature new consumer protection
guidelines. Insurers cannot deny coverage for people with pre-existing conditions.
Minimum health benefits as defined under health care law will have to be met including
coverage of maternity care and prescription drugs.

Many of Ohio's legislators opposed a state-run exchange for various reasons. One of the
main arguments against the very idea of an Ohio health insurance exchange is that it is
not a financially sound proposition. Gov. John Kasich said that his administration had put
the cost of setting up the exchange at $43 million.

Administrators are also worried about the uncertainty surrounding the system, for which
rules have not been clearly laid out. The absence of freely competing market forces could
also cause a rise in health premiums for individuals and small businesses, they say. It is
pointed out that the benefits mandate and coverage guarantees would push up the costs
Ohio health insurance plans, making them more expensive than the plans currently
available in the open market.

The Ohio health insurance exchange will not be in place until 2014. Even as the state is
struggling to find answers to many questions on the future of health insurance in Ohio,
you have to stay covered. Contact a professional Ohio based brokerage to purchase an
affordable Ohio health plan to meet your needs.

About the Author

Tracy McManamon is a well known Ohio health insurance consultant. He helps clients
choose affordable and comprehensive health plans in Ohio. Call toll free number: 877-549-
1212 or visit http://www.onesourcebenefits.com/ for more details.

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