Health Plan Cost for New Yorkers Set to Fall 50%
Individuals buying health insurance on their own will see their premiums tumble next year in New York State, and supporters of the health care overhaul credit the online purchasing exchanges the law created.
Individuals buying health insurance on their own will see their premiums tumble next year in New York State as changes under the federal health care law take effect, state officials are to announce on Wednesday.
State insurance regulators say they have approved rates for 2014 that are at least 50 percent lower on average than those currently available in New York. Beginning in October, individuals in New York City who now pay $1,000 a month or more for coverage will be able to shop for health insurance for as little as $308 monthly. With federal subsidies, the cost will be even lower.
Supporters of the new health care law, the Affordable Care Act, credited the drop in rates to the online purchasing exchanges the law created, which they say are spurring competition among insurers that are anticipating an influx of new customers. The law requires that an exchange be started in every state.
Join the Discussion
LATEST HEALTH & HUMAN SERVICES HEADLINES
Jeb Bush’s Medicaid Fix: More Choices, Fewer Benefits?1 day ago
For the First Time in America, a Doctors Organization Drops Opposition to Assisted Suicide2 days ago
Kansas Lawmakers May Expand Medicaid If...2 days ago
How to Keep the Mentally Ill Out of Jail3 days ago
The 'Rapid Rehousing' Solution to Homelessness3 days ago
In One State, Women Can Soon Get Birth Control Without Ever Seeing a Doctor4 days ago