State Senator Jay Hottinger (R-Newark) Chairman of the Senate Insurance Committee, today released the following statement regarding data recently released by the Ohio Department of Insurance illustrating how the cost of insurance premiums have skyrocketed as a result of the Affordable Care Act:
“The information and data continues to come in regarding the Affordable Care Act, markedly demonstrating that it is anything but affordable. Another double-digit increase has now brought the average annual premium increase to 91 percent since 2013.
The continual sharp erosion of choice is significantly hurting competition which is having draconian effects on higher premiums. Going from 17 companies on the exchange down to 11 is a significant factor in the rising premium costs.
While this news is bad for Ohioans, it is even worse for rural Ohioans as 19 counties now only have a single company on the exchange and another 28 counties only have two. The data painfully illustrates how the federal government’s one size fits all approach is leading to less choice and significantly higher premiums in the State of Ohio.
It is imperative that the federal government review this data and to recognize the need for significant revision or repeal.”