By a narrow vote of 5-4, the Supreme Court ruled this morning that the federal government can impose a tax on persons that refuse to purchase health insurance. Thus, health care reform (Obamacare) will proceed and move forward and much of the implementation will take place starting in 2014. But what about individuals and families in Ohio? How will we be impacted? We’ll try to answer some of those questions.
Does this change the way health insurance is purchased here in Ohio?
Currently, there is no “Exchange” set up here and there is a chance one may never be set up. However, Ohio can choose to allow the federal government to set it up. The current administration would like to see “Exchanges” in 2014 dictate how coverage is purchased. But the clunky nature of the Exchanges along with their unpopularity have many legislatures and citizens concerned. Additional research information is found here, with additional details on “benchmark plans,” “essential health benefits” and other ACA Legislation features.
So for now, Ohioquotes.com will continue to offer the lowest available rates from all of the top companies. Quotes are free and so is the professional service You can apply online or we’ll fax/email an application. If Exchanges become the law of the land, we will continue to help you find affordable coverage through these government-run websites, which will also be referred to as “Marketplaces.”
How do most Ohioans feel about the health care law?
Last year, in a referendum (Issue 3), Ohioans voted against the change. Most residents of the state are still against the massive overhaul, and this could affect the candidate they vote for in the upcoming presidential election. If Mitt Romney is elected, it’s possible part or all of the legislation could be repealed or simply have funds withheld for its implementation. If Romney is not elected, the legislation will be fully implented and the healthcare landscape will change.
What are some of the good parts of the law?
Actually, there are many portions of the “Affordable Care Act” that are quite positive. For example, most preventive expenses are now covered with no waiting period and no out-of-pocket expense and dependents can stay on their parent’s health care plans until age 26. Insurance companies also must now spend less money on administrative expenses and more on health care costs. And of course, in 2014 insurers can not deny an applicant coverage because of any pre-existing conditions. However, after an Open Enrollment period ends, alternative coverage will have to be arranged.
Will premiums in Ohio now go up in 2014?
Yes. And perhaps substantially. Since insurance carriers can not decline any applicant for medical conditions, healthy individuals and even fairly-healthy individuals will have to pay more. And maybe a lot more. Look for rates to increase once 2014 arrives. What many people don’t realize is that currently, rates in Ohio are among the lowest in the country and with the Risk Pool and Open Enrollment, almost anybody can qualify for coverage. In 2014, it may be different.
I have a policy right now. Can I keep it in 2014?
The President says you can. Many experts in the field say you can’t. I guess we’ll eventually find out.
