The Affordable Care Act (ACA) requires that every state have an exchange where consumers can buy individual health insurance policies. In Ohio, the federal government runs the health insurance exchange. Ohioans who do not have health insurance through their employer, Medicare or Medicaid may be eligible to purchase coverage through the exchange. Open enrollment for coverage next year (2020) is November 1, 2019 to December 15, 2019. Below is a summary of Ohio’s individual market for 2020. The data is based on products approved by the Ohio Department of Insurance.
Ohio’s Health Insurance Market (2019–2020):
- For 2019, the department approved 10 companies to sell on the exchange. Based on the plan information the Department approved, all 88 counties will have at least one insurer. Filings show 16 counties with just one insurer and 33 counties with two.
- For 2020, 10 companies have been approved to sell on the exchange. Based on those filings, 29 counties will have two insurers and one county will have just one insurer. All other Ohio counties will have at least three insurers selling exchange products in 2020.
Companies approved to sell in 2020:
- AultCare Insurance Company
- Buckeye Community Health Plan
- Community Insurance Company
- Medical Health Insuring Corp. of Ohio
- Molina Healthcare of Ohio, Inc.
- Oscar Buckeye State Insurance Corporation
- Oscar Insurance Corporation of Ohio
- Paramount Insurance Company
- Summa Insurance Company
Individual Market Premium Information for 2020:
- Following implementation of the ACA, plan options and the premiums associated with those plans underwent significant changes. Since 2013, the Department has provided information prior to open enrollment each year as plans and premiums change. In 2019, the weighted average premium for an on-exchange individual market plan was $6,161.56 and for 2020 the weighted average premium based on approved products is $5,690.26 – a decrease of 7.7 percent.
- Weighted average annual premium comparison since 2013
Questions and Answers:
When do I begin shopping for my new coverage?
All Ohioans who purchased health insurance through the federal exchange in 2019 will need to select a plan for 2020 during open enrollment, which begins November 1.
When will I be impacted by these changes if I buy on the exchange?
January 1, 2020. Open enrollment begins on November 1, 2019 and runs through December 15, 2019. You will need to choose a plan during this time if you want your coverage effective January 1, 2020.
I need assistance to understand my situation and my options. Who should I contact?
During exchange open enrollment, the best first step is to contact an agent or broker. Additionally, consumers looking to obtain coverage may contact the federal exchange in Ohio directly by visiting www.healthcare.gov or by calling 1-800-318-2596. However, if consumers are having problems with their current coverage, claims disputes, or other concerns with their policy they can contact the Ohio Department of Insurance at 1-800-686-1526.