Obamacare premiums in Ohio will rise by 13 percent onaverage in 2015, the state’s insurance department announced Thursday.
Overall, that will mean the average health insurance premium will cost $374.42 per month next year, compared to $332.58 each month for coverage in 2014.
Small businesses will be hit with an 11 percent average premium hike, bringing up the average monthly cost to $446.78, up from $401.99 for comparable health policies this year.
“It’s bad news, no doubt, but it’s what we expected and it’s what the research we did in advance predicted would happen,” said Ohio Lt. Governor Mary Taylor in a statement. “Ohio has traditionally had a very competitive insurance market which meant our rates were lower than a lot of other states. That means that Obamacare is hitting us harder and driving our costs us significantly.”
Ohio is one of the first states to release insurance companies’ proposals for 2015 premium rates. Virginia, Washington and Indiana have all announced significant premium hikes for next year.
Virginia, the first to release rates, saw insurers request premium increases ranging from 3.3 percent to 14.7 percent