Individual Health Insurance Ohio When You Lose Employer-based Coverage

According to the U.S. Department of Health & Human Services, losing employer-sponsored insurance is a risk that everyone faces – regardless of income, employment status, age, race/ethnicity, gender, and health status1. Many employers have stopped offering health insurance, many are shifting more of the cost to their workers, and others have cut their contributions towards coverage for workers’ families.

While all 50 states saw declines in employer-sponsored coverage, here are some facts reported by the Economic Policy Institute about such employer health insurance Ohio: • Ohio had the seventh-largest percentage decline in insured individuals under 65 from 2000 to 2010.
• Ohio experienced a 12 percent decline in employer-sponsored health-insurance, with the number of Ohioans with such coverage falling to about 6.2 million in 2010 compared to 7.3 million a decade ago.

Many provisions of the 2010 health care reform act are designed to increase individual coverage, but most come into effect only in 2014. The good news is that an individual Ohio health insurance plan can provide adequate and affordable coverage – provided you buy right.

Health Insurance Ohio - How to Shop for a Individual Plan • Look for alte
ative group coverage: Members of industry professional groups such as bar associations, chambers of commerce, medical associations or other such organizations can purchase health insurance through them. You can get an affordable plan similar to employer-sponsored coverage, but as benefits may be fewer, you need to examine it carefully before you buy. A word of caution: make sure the insurance policy is genuine.

If you are self-employed, talk to an experienced licensed health broker based in Ohio for information on a sole proprietor plan, which offers comprehensive coverage and can be cheaper than purchasing an individual plan in the private market. • Get professional guidance to compare individual policies: If you are healthy and have few or no pre-existing conditions, your best option is to go to the website of a reliable insurance agent and purchase a plan online. Your agent would guide you on comparing the premiums, benefits, deductibles, and other costs of the policies offered by leading Ohio health insurance companies.

Check your deductible - the amount that you pay yearly before the health plan reimburses your medical expenses. While a high deductible plan means a lower premium, you need to ensure that your out-of-pocket expenses are within practical limits.

If the plan you’re considering has additional deductibles for prescription drugs or doctor visits, see whether the deductible is per person or per family. With a per person deductible, every family member must satisfy the deductible amount in full before coverage begins for that member. Per family deductibles can be ‘2 members per family’ or ‘3 members per family’. If the designated number of family members fully meets the deductible, then the deductible is considered met for all family members. • Understand the difference between a regular health insurance policy and a short-term or temporary plan: A short-term health insurance plan is a temporary alterative to traditional individual medical insurance coverage and can cover you when you are between jobs, waiting for group coverage, just out of school and other special circumstances. Most do not provide any prescription drug coverage. • Consider the Ohio high-risk insurance pool and CHIP: If you have a pre-existing condition and are finding it difficult to buy a traditional plan, you can get health insurance coverage through the Ohio high-risk pool which is administered through Medical Mutual and the Ohio Department of Insurance. The program, valid till other options come into effect in 2014, will cover you for rates similar to those available for healthy Ohio residents. Your children can be enrolled in Ohio’s Children's Health Insurance Program (CHIP).

So stop worrying if you have lost employer-sponsored insurance coverage - quality, affordable individual health insurance Ohio is available. Just make sure you get professional guidance to choose the right option.