Ohio: *Final* avg. unsubsidized 2024 #ACA rate changes: +7.8%
The Ohio Insurance Department does this weird thing where they list all of the carriers offering policies on the individual market and list the weighted average year over year premium change...but they don't list the actual rate increases for each carrier. Fortunately, federal Rate Review site includes the rate changes, and the SERFF database for Ohio includes the actual enrollment numbers for all of the individual market carriers except one.
As a result, I've been able to put together a weighted average requested rate increase for the individual market (I estimated the one missing enrollment number based on the overall Ohio indy market total); it comes in at 7.6%.
For the small group market, I have to go with an unweighted average of +10.8%. It's also worth noting that, once again, Humana appears to be bailing on the entire small group market nationally from what I can tell.
UPDATE 10/31/23: The Ohio Insurance Dept. has posted a summary of the weighted average rate increase for the individual market as being slightly higher than the preliminary requests (+7.8% vs. 7.6%):
Premiums for 2024 are projected to increase compared to 2023 - though individual companies' rates will vary from the average.
Weighted average annual premiums for the individual market for 2024 are projected to be $7,010.20. In 2023 weighted average annual premiums were $6,500.65. - an increase of 7.84%.
The final/approved rates are also now posted at the federal Rate Review website...and they've barely changed at all. Yet the official weighted average is slightly higher than I had estimated earlier.
The same is true of the small group market...only 2 carriers (Medical Mutual and Paramount) had their requested changes modified, and even then it was only by a hair apiece.