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Guest post by: Tracy McManamon Become an Author

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There are mixed feeling in the air over the new healthcare decisions taking place. Many are excited because they will finally have coverage; others are upset because they believe in many ways this will not fix anything. Ironically enough, both are right. Many people who did not have coverage will receive it but that will do nothing to offset the ever-rising healthcare costs.

Employers of smaller and larger businesses alike are looking ahead to what they will be facing in 2014. Both can say this: prices will not be coming down. As Brynn Popa, director of the Council of Smaller Enterprises in Northeast Ohio (COSE), said, “The cost of healthcare continues to rise with or without healthcare reform.” This will certainly continue to be a challenge for those looking for Ohio health insurance. In fact many who own small businesses are struggling with higher premiums but still want to be able to supply health insurance for their employees. Large businesses especially find that offering health insurance is a competitive advantage that assists them in keeping good employees on their staff. But with single employees now paying as much as 20 percent of their total premium and families paying up to 28 percent, it is no surprise that employers are struggling to keep insurance benefits for employees. Currently the annual median cost for premiums is $5,052 for a single person and $13,140 for a family. And nothing appears to be going down in price.

In fact for many younger adults the premiums have a good chance of going up as more and more elderly and less healthy individuals begin getting health insurance either for the first time or now an artificially lower price. The Affordable Care Act will lessen the ability for premiums to be higher for those who are high-claims cost candidates. Some individuals may be able to qualify for subsidies if they earn up to 400 percent of the federal poverty level. This amount would mean $92,200 a year for a family with four people. Those with smaller businesses will weigh their options to see if the open market is truly a better place for their employees to find Ohio health insurance with the help of subsidies.

It does appear that businesses will continue to stay invested in their employee’s health through wellness programs and other programs that encourage weight loss and promote general health. Wellness and weight loss programs are positive examples of programs that have helped to lower healthcare costs and companies are wise to use them. Another positive note is that the insurance premiums are expected to rise 6 percent as opposed to 7 or 8, which has been the norm across the country these last five years. This is most likely linked to the programs that companies have started to increase health and bring down premiums.

Whether you have Ohio health insurance or insurance from any state, the truth is insurance prices are only going to continue rising. Planning ahead with some extra savings and continuing to live a healthy lifestyle are the best options available to date. It is also invaluable to seek experienced assistance from a broker when looking for your best option.

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