National Security

Ohio Latest State to Announce Insurance Rate Spikes

AP

Health insurance premiums for individuals in Ohio are rising by 41 percent on average because of Obamacare, Politico reported Thursday.

The Ohio Insurance Department says individuals buying health insurance can expect an average 41 percent increase next year because of the president’s health care law. It projects small-business premiums will increase 18 percent for those in the SHOP exchange. Overall costs to insurers are expected to rise 83 percent, the department said.

"Ohio has traditionally had a more competitive health insurance market than other states with a wider range of prices and choices — from simple, high deductible coverage to comprehensive, full service plans," said Lt. Gov. Mary Taylor, a vocal Obamacare critic who’s also the state’s insurance commissioner. "That level of diversity is essentially outlawed under Obamacare so Ohio’s rates and premiums are going up significantly, and going up more than in other states where prices were already high." The figures do not take into account subsidies some people will receive.

Ohio is the latest state to announce rising premiums for health insurance.

Insurance rates on the individual market in Georgia are rising significantly, the Georgia insurance commissioner announced on Monday. A 25 year-old male will pay 85 to 198 percent more for insurance under the Obamacare exchange.

Indiana also announced that its premiums are rising significantly.

The federal government is running the exchanges for all three states.