Ohio Health Insurance Predictions for 2013 and Beyond | Ohio ...

Healthcare policy was a key issue in the U.S. elections. The focus is now on implementing the provisions of the Affordable Care Act (ACA). Here are some of the ways the Ohio health insurance scene is set to change in 2013 and the years ahead:

• Focus on consumer-centric health insurance plans: As more people come under the health insurance umbrella, health insurers will compete to provide them with consumer-friendly plans.

• Health Savings Accounts (HSAs) will become popular: Health insurance premiums are rising and people looking for affordable coverage will opt for HSAs. Offered along with a high deductible plan, HSAs allow people to save tax-free dollars for future medical expenses.

• More wellness programs on the job: As the ACA creates new incentives and builds on existing wellness policies to promote employer wellness programs, more employers will reduce premium contributions or the deductible and copayment amounts for workers who join these programs.

Some statistics:

• Rise in healthcare spending: Official data shows that the nation?s health spending will reach a rate of 5.5 percent by 2013 as a result of the expected improvements in the economy.

• Out-of-pocket spending is predicted to increase 3.9 percent in 2013. The reasons for this are growth in household incomes leading to more spending on health care and also the increase in employee cost-sharing requirements in employer-sponsored insurance plans.

• Persons under age 65 in families with income up to 138 percent of the Federal Poverty Level will become eligible for Medicaid in 2014. It is projected that Medicaid enrollment will increase by 19.5 million people.

• Up to 13.9 million persons are expected to enroll in the plans offered by Health Insurance Exchanges in 2014, when the exchanges will begin operation. It is predicted that the insurance exchanges will lead to increased payments through insurance and reduction in out-of-pocket spending.

Have a healthy and safe 2013 and stay insured to minimize your risks!

Source: http://www.onesourcebenefits.com/blog/2012/12/28/ohio-health-insurance-predictions-for-2013-and-beyond/

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