Health insurance rates in New York drop by 50%

Health insurance rates

Health insurance premiums are plummeting in New York Health insurance rates are rising throughout the U.S. as insurers prepare to comply with the various regulations being introduced with the Affordable Care Act. These regulations are placing more stringent requirements on insurers, effectively raising the costs associated with administration and general business while also lowering their ability to generate profit. In New York, however, health insurance rates for individuals could plummet due to the state’s health insurance exchange program. Officials approve 17 affordable plans from insurers New York officials have approved…

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New York health insurance exchange begins acquiring policies

health insurance options

New York health insurance companies being tapped by exchange program The New York Health Benefit Exchange has begun reaching out to private insurance companies throughout the state in order to populate itself with health insurance policies. The health insurance exchange was established as part of the Affordable Care Act and New York legislators decided that the state will run this insurance program rather than the federal government. Per the federal health care law, the exchange is meant to be a marketplace where consumers can find affordable coverage. Lawmakers aim to…

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Majority of New York State Small Businesses Embrace Health Insurance

NEW YORK, December 5, 2011 – A vast majority of New York State’s small business owners are giving two thumbs up to health insurance exchanges as a viable way to provide health insurance to their employees, according to a statewide survey commissioned by HealthPass New York, a NYC-based commercial health insurance exchange. The survey also found that exchanges have the potential to change the health care marketplace in New York at a time when many small business owners are struggling to keep afloat. HealthPass New York commissioned Hudson TG to…

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New York to look into the benefits of a health insurance exchange

New York legislators are moving ahead with plans to lay the foundation of a health insurance exchange. Though the state Legislature has not yet passed any legislation making an exchange possible, lawmakers and insurance regulators are looking to prepare the state for what they believe is an inevitable system. New York has until 2014 to build an exchange system or risk having the federal government rake over the program. To date, New York has received more than $38 million in federal grants to work on implementing an exchange. In June,…

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New York legislators reject federal funding for health insurance exchange

New York has long stood as a bastion for what the federal government stands for. The state boasts of one of the most populated and diverse cities in the world where the shortfalls and accolades of the government are highlighted in stark contrast. The state is also home to more than 2.6 million uninsured residents, most of whom cannot afford health insurance. Given the high number of those living in the state without insurance coverage, it would seem that lawmakers in New York would be welcoming to federal health care…

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