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
After you comment, click Post. You can enter an anonymous Display Name or connect to a social profile.
LATEST HEALTH & HUMAN SERVICES HEADLINES
Illinois Stops STD Testing, Tells Facilities to Find New Private Partners2 hours ago
Medicaid Has Great Responsibility Without Great Power20 hours ago
Florida Mortgage Program Not Helping Homeowners Enough22 hours ago
Telemedicine Is Expanding, But No One Knows If It Saves Money22 hours ago
Chronically Ill Pay More With Obamacare Plans Than Employer Coverage1 day ago
Jerry Brown Makes California 5th State to Legalize Assisted Suicide1 day ago