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  1. #1
    Senior Member JohnDoe2's Avatar
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    New Yorkers to see 50% drop in health insurance costs in Obamacare exchange

    New Yorkers to see 50% drop in health insurance costs in Obamacare exchange

    By Tami Luhby @Luhby July 17, 2013: 5:32 PM ET


    NEW YORK (CNNMoney)

    New York state residents will be able to get health insurance next year on the Obamacare exchange for half the average price available in the state today.

    The cost of a "silver" plan -- which covers at least 70% of medical costs, on average -- will drop to as little as $359 a month for a single adult Manhattan resident, for instance, according to a rate sheet released Wednesday by state officials. Currently, the cheapest plan a city resident can buy on the individual market is $1,001.

    Costs vary throughout the state. In Rochester, for example, a similar "silver" Obamacare plan can be had for as little as $276 per month.

    Some 17 insurers will offer coverage, which will come in four tiers: bronze (the lowest and cheapest tier), silver, gold and platinum (the most expensive). Each plan will have a standard set of benefits, allowing people to choose between insurers based on price, officials said.

    Those prices can vary widely within regions. In Albany, for instance, the Freelancers Co-Op will sell silver coverage through the exchange for $300 per month for a single adult. A silver plan from HealthNow New York would cost $525.

    The plans will also differ on the range of doctors and medical facilities included in their networks, state officials said. The wide spread in premiums for next year is largely because insurers have to base their 2014 rates on models and not actual costs. Officials expect the differences to narrow in the future.

    The New York rates are the latest to be disclosed as states and the federal government get ready to enroll residents in state-based exchanges in October.

    These marketplaces are a key element of Obamacare, formally known as the Affordable Care Act, which requires nearly every American to obtain insurance by 2014 or pay a penalty. Coverage on the exchanges begins in January.

    Federal subsidies will be available to those with annual earnings between $45,960 for an individual and $94,200 for a family of four, further reducing the premium cost.

    The Empire State is the latest to reveal premiums that are lower than current rates. Residents in California and Oregon, among others, will also have offerings that are cheaper than many plans on the market today. The administration and Democrats trumpeted the news, which runs counter to argument advanced by Obamacare opponents who said that health reform would cause rates to skyrocket.

    Related: I'm signing up for Obamacare

    But the steep drop in rates in New York will likely not be mirrored in many other states. That's because New York is one of the few that already required many of the benefits of Obamacare, which left its individual market filled with a small pool of sicker residents and very high costs. Only 17,000 New Yorkers buy their own insurance right now, while 2.6 million people lack coverage.

    New York does not allow insurers to reject people with pre-existing conditions, something Obamacare also bars them from doing. And it required them to provide a standard set of deductibles, co-pays and benefits, including hospital care, lab tests and prescription drugs.

    That sent premium costs soaring. Health care costs per capita are about 18% higher in New York than nationally, state officials said.

    But under Obamacare, healthier residents are expected to flood the individual market to avoid paying the penalty. The state is expecting more than 600,000 people to enter the exchanges, with about 70% of them eligible for federal subsidies.

    "The people who are going to come in are healthy people who can't afford the coverage now," said Gary Claxton, vice president at the Kaiser Family Foundation. "
    That will substantially lower the average cost of care."


    Entrepreneurs: Obamacare delay not enough

    The state also released rates for small business plans, but said a rate comparison was impossible because there are more than 15,000 different plans with a wide variety of options today. The rates in the small business exchange, however, are "generally lower" than estimates.

    The statewide average cost of a small group plan will range from $338 to $568 for a single adult for a silver plan.

    Small businesses may also opt to buy insurance coverage off the exchange. These plans will carry the same premiums, but have more variation in cost-sharing provisions than exchange-based options, state officials said.

    http://money.cnn.com/2013/07/17/news/economy/obamacare-health-insurance-new-york/index.html?eref=googletoolbar
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  2. #2
    Senior Member JohnDoe2's Avatar
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    Seniors like me have been paying into Medicare since 1968 and have gotten no benefits until age 65. Even so, Medicare was going bankrupt. So Obama's "health care" plan looted 700 billion from Medicare to help pay for his socialist medical plan. Illegal aliens will be covered under Obama care. Please stop posting this liberal crap about how wonderful Obama's socialized medicine will be. What it will be is like all socialist schemes a disaster.

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    Senior Member JohnDoe2's Avatar
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    Where Does Your State Stand on ‘Obamacare’ Implementation?

    Jul 17, 2013 5:54pm

    States are putting together their new health-care exchanges under the Affordable Care Act, better known as “Obamacare,” and all 50 must be up and running by October 1.

    Where does your state stand?

    The Obama administration has set up a website where visitors can click on a map with information about how the Affordable Care Act will change health care in each state. For the most part, the site promotes improvements brought by the
    Affordable Care Act and the grant money the states have received.

    Tomorrow, President Obama will tout the law in a speech at the White House.

    There’s good news for the president to tout. On Wednesday, New York Democratic Gov. Andrew Cuomo announced that thanks to new competition among insurers, premiums for non-employer health insurance will drop by 50 percent, as ABC’s Jonathan Karl reports. State insurance regulators have approved the new rates for insurance plans available on the state’s new health-care exchange system.

    The news isn’t all good. In Ohio, the state Department of Insurance announced last month that the cost of health-care expenses–not just premiums–for non-employer-covered individuals will rise an estimated 88 percent. The department said premiums are expected to rise significantly.

    http://abcnews.go.com/blogs/politics/2013/07/where-does-your-state-stand-on-obamacare-implementation/
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  5. #5
    Senior Member ReformUSA2012's Avatar
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    Yet of course we don't know exactly what will and won't be covered in these plans. People with pre existing conditions even minor things, people with obesity, smokers, drinkers, and so forth? Lots of unknowns and a low price doesn't mean anything if you don't know wtf your getting.

  6. #6
    Senior Member JohnDoe2's Avatar
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    Contact Information:
    Governor's Press Office
    NYC Press Office: 212.681.4640
    Albany Press Office: 518.474.8418
    press.office@exec.ny.gov



    Andrew M. Cuomo - Governor
    Governor Cuomo Announces Approval of 2014 Health Insurance Plan Rates for New York Health Benefit Exchange


    17 Health Insurers Have Rates Approved to Provide Coverage on the Exchange




    Albany, NY (July 17, 2013)


    NEW YORK, NY – Today, Governor Andrew M. Cuomo announced that the Department of Financial Services (DFS) has approved health insurance plan rates for 17 insurers seeking to offer coverage through New York’s Health Benefits Exchange, including eight new entrants into the market that do not currently offer commercial health insurance plans. Last year, Governor Cuomo took action to issue an Executive Order establishing the New York Health Benefit Exchange, which is expected to help more than one million uninsured New Yorkers access quality, affordable health care coverage.

    Consumers and businesses will be able to choose among plans in four easy-to-compare metal tiers (bronze, silver, gold, and platinum) on the exchange. The plans within each metal tier will have standardized contract terms and product offerings, making it easier for consumers to truly comparison shop and encourage real price competition among insurers. Previously, New York insurers offered more than 15,000 plans that widely varied in terms of level and quality of coverage provided – which encouraged ‘competition through confusion’ and made it difficult for purchasers to effectively compare plans side by side.

    “New York’s health benefits exchange will offer the type of real competition that helps drive down health insurance costs for consumers and businesses,” said Governor Cuomo. “The opportunity to choose among affordable, quality health insurance options will mean improved health outcomes, stronger economic security, and better peace of mind for New York families.”

    Benjamin M. Lawsky, Superintendent of Financial Services: “In setting these rates, we worked hard to do right by consumers and small businesses so they have access to affordable, quality health insurance. Moreover, where New York previously had a dizzying array of thousands upon thousands of plans, small businesses will now be able to truly comparison shop for the best prices. New York will continue to move ahead rapidly so the exchange is up and running for 2014.”

    “The approval of health plan rates marks a significant milestone for the New York Health Benefit Exchange,” said New York State Health Commissioner Nirav R. Shah, M.D., M.P.H. “The state continues to be on target to begin enrolling consumers and small business owners and their employees in health insurance coverage on October 1, 2013. Access to affordable, quality health care will mean better health, peace of mind and financial security for New Yorkers.”

    On average, the approved 2014 rates for even the highest tier of plans individual New York consumers could purchase on the exchange (gold and platinum) represent a 53 percent reduction compared to last year’s direct-pay individual rates. The fact that these average individual rates are effectively being cut more than in half is primarily because a greater number of uninsured individuals are expected to obtain coverage in the individual insurance market – lowering overall premiums. (Note: That 53 percent reduction does not include the impact of federal financial assistance for individuals meeting certain income thresholds who are purchasing coverage on the exchange, which would lower costs even further for many consumers.)

    Furthermore, despite the fact that health care costs per capita are approximately 18 percent higher in New York than the national average, the average approved rates for the benchmark individual “silver plan” in New York would be in line with (nearly 10 percent lower) the nationwide average previously forecast by the independent, non-partisan Congressional Budget Office (CBO) for when health care reform is implemented.

    For approved 2014 small group plan rates, existing premium rates do not provide a functional year-over-year comparison. In 2013, insurers offered more than 15,000 different small group plans that significantly varied in terms of the quality and level of coverage provided. This year, insurers are offering standardized contracts and product offerings within metal tiers (bronze, silver, gold, and platinum).

    The approved small group rates, however, are generally lower than indicated by the estimates of other independent forecasters. The average approved small group rate in New York for the benchmark “silver plan” is well below (nearly 32 percent lower) the nationwide average previously forecast by the independent, non-partisan CBO – notwithstanding the relatively higher per capita health care costs in New York compared other states. Moreover, a number of small businesses will be eligible for tax credits that would lower those premium costs even further.

    The following companies had health insurance plan rates for the health benefits exchange approved today by DFS. The rates approved today are subject to final certification of the insurers’ participation in the exchange.



    • Aetna
    • Affinity Health Plan, Inc.
    • American Progressive Life & Health Insurance Company of New York
    • Capital District Physicians Health Plan, Inc.
    • Health Insurance Plan of Greater New York
    • Empire BlueCross BlueShield
    • Excellus
    • Fidelis Care
    • Freelancers Co-Op
    • Healthfirst New York
    • HealthNow New York, Inc.
    • Independent Health
    • MetroPlus Health Plan
    • MVP Health Plan, Inc.
    • North Shore LIJ
    • Oscar Health Insurance Co.
    • United Healthcare


    Individuals with incomes below 400 percent of the federal poverty level ($45,960 for individuals and $94,200 for a family of four), could qualify for financial assistance that lowers cost of coverage. Enrollment for the exchange begins on October 1, 2013 for coverage that will be effective January 1, 2014.

    “These plans and rates deliver on the promise that the Exchange will offer quality health insurance coverage at a price that works for New Yorkers,” said Donna Frescatore, Executive Director, New York Health Benefit Exchange. “We were pleased to see that there was much interest from health plans regarding participation in the Exchange. Our partners at the New York State Department of Financial Services did a thorough job of negotiating affordable prices while ensuring that consumers will have access to the providers they need. Robust competition among health plans has resulted in meaningful choices and better options for consumers.”

    For more information about the New York Health Benefit Exchange, please visit, www.HealthBenefitExchange.ny.gov.

    For a listing of the health insurance plan rates approved today by region, please visit: www.governor.ny.gov/assets/documents/Approved2014HealthInsuranceRates.pdf

    http://www.governor.ny.gov/press/07172013-health-benefit-exchange
    Last edited by JohnDoe2; 07-18-2013 at 01:27 AM.
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  7. #7
    Senior Member JohnDoe2's Avatar
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    Quote Originally Posted by ReformUSA2012 View Post
    Yet of course we don't know exactly what will and won't be covered in these plans. People with pre existing conditions even minor things, people with obesity, smokers, drinkers, and so forth? Lots of unknowns and a low price doesn't mean anything if you don't know wtf your getting.
    For more information about the New York Health Benefit Exchange, please visit, www.HealthBenefitExchange.ny.gov.

    For a listing of the health insurance plan rates approved today by region, please visit:
    http://www.governor.ny.gov/assets/do...ranceRates.pdf
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  8. #8
    Senior Member JohnDoe2's Avatar
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    Quote Originally Posted by ReformUSA2012 View Post
    Yet of course we don't know exactly what will and won't be covered in these plans. People with pre existing conditions even minor things, people with obesity, smokers, drinkers, and so forth? Lots of unknowns and a low price doesn't mean anything if you don't know wtf your getting.
    . . . Californians cannot be denied coverage based on pre-existing medical conditions, prices cannot vary by gender, and insurers are not allowed to set a maximum dollar amount they will pay during a policyholder's lifetime.

    All policies sold by the exchange must cover preventive care, prescription drugs, contraception, medical screenings - such as mammograms - and other "essential benefits," including pediatric, mental health, maternity and rehabilitation services. . .
     
    http://www.alipac.us/f9/california-h...-costs-279243/
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  9. #9
    Senior Member ReformUSA2012's Avatar
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    I still don't see it working like they are acting like. Yes you can't be denied insurance but that same statement doesn't mean the insurance provider has to be liable for pre existing conditions. Theirs a lot of grey areas out there to slip through and some big holes. Unless something changed which I don't know about the plans can still decide quite a bit what they cover and don't cover and how someone would qualify. Nothing as simple you "have X medical issue and need Y treatment, just send us the bill."

    Lets also see how it effects non super heavy liberal states. But still for many even $400-500 a month for your own healthcare is insanely expensive. I've spent less then that myself in the last 5 years and I pay by cash. That's 10% of someones salary who makes $50k a year (don't forget taxes also decreasing).

  10. #10
    Senior Member JohnDoe2's Avatar
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    . . . Premiums will vary based on age, region, household size and type of coverage sought. . .


    . . . For a relatively basic policy, known as a "silver" plan, the total monthly premium in the Sacramento region for a 40-year-old single individual would range from $332 to $476, with federal subsidies on a sliding scale for people with incomes up to $45,960. Individuals eligible for the highest subsidy, $276 per month, would face out-of-pocket expenses of $56 for monthly premiums. . .
    http://www.alipac.us/f9/california-health-exchange-reveals-obamacare-premium-costs-279243/
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