Cost of Oklahoma health plans skyrocket in marketplace

OKLAHOMA CITY (AP) – Thousands of Oklahomans who are expected to participate in the open enrollment period under the federal Affordable Care Act that begins this weekend can expect some dramatic increases in the cost of health insurance.

A report on the affordability of health insurance plans offered on the federal exchange show the cost of one of the benchmark plans will increase more than 35 percent – nearly five times higher than the national average.

Oklahoma’s 35.7 percent increase for the second-lowest cost silver plan is the highest among the 37 states that use the federal health insurance exchange.

Oklahoma Deputy Insurance Commissioner Mike Rhoads says the cost increase is the result of fewer providers in the market and high losses by Blue Cross Blue Shield Oklahoma, the largest provider on the exchange.