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Obamacare: Health Plan Cost for New Yorkers Set to Fall 50%

Posted: Jul 18, 2013

will see their premiums tumble next year in New York State as changes under the federal health care law take effect, Gov. Andrew M. Cuomo announced on Wednesday.

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Graphic

The Cost of Individual Insurance in New York State

DOCUMENT: Approved Monthly Premium Rates for Individual Health Insurance Coverage in New York State

Credit Reporting Agency Hired to Verify Incomes for Insurance Subsidies (July 17, 2013)

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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.

Remainder of article at link below. Needless to say, although we've all benefited so far and will benefit more as the Obamacare's free markets for insurance shopping are implemented, only residents of states that are NOT fighting to maintain double-digit yearly premium increases for the insurance companies will this degree of...well, reform.

;

Hmmm - me

[ In Reply To ..]
I live in the Buffalo, NY area and I can tell you, Obamacare isn't gonna help us - the plan we have had for years at an affordable rate is now being "discontinued" and its replacement is nowhere near as affordable. So, I guess Obama can tax me $3000 - if I can't afford to pay for the health care, it's a given I won't be able to pay a $3000 fine x2.

I'd be unhappy too if my insurance had stayed more like 1980s - rates and that was finally over. But

[ In Reply To ..]
I imagine you are at least happy for all those less affluent working people who will now again be able to afford to go to the doctor too. You know, the many millions of us who once could afford healthcare but increasingly have had forego it as prices have risen inexorably year after year after year, decade after decade?

I'll tell you, Hmmm, we've owned our own home outright for 20 years, and our insurance company knows we'd sell it if we had to to pay for my husband's PCI, or whatever. That's how they've been determining what the market will bear--our life's earnings.

It was always a wonder--would we finally take healthcare delivery back from the profiteers before it came to that for us? And what about when I became sick and the house was already gone?

We're not quite there yet, I still have a preexisting condition and do not live in New York, California, Kentucky or a few others that haven't fought implementation. People in my state can still lose everything just by getting diagnosed and laid off. But come this fall, I will no longer wake up in the middle of the night telling myself that twinge has come and gone away before and will just go away again. Our home will be safe. I'll go get it checked.

I remember the late '70s, early '80s insurance rates and care. - Truthhurts

[ In Reply To ..]
I paid $200 a month through my employer. Never had to worry about a bill from hospital or doctor. Insurance covered everything.

Doctor bill for son's birth was $125. Room cost $50 a day. Didn't have to pay a cent towards any of it.

Then came HMOs and PPOs. Suddenly, everything changed. Administrative costs went up, hospital costs went up, rates went up and started spiraling out of control until you have the disaster of today.

Those are mostly my memories too. We had copays that - could hurt a bit, but sick? Go to the doctor.nm

[ In Reply To ..]
x

Obamacare limits profits in the health insurance industry but... - Truthhurts

[ In Reply To ..]
this is only one example in one state - Florida-but I can see it for the rest of the country, too, since it would limit profits and administrative costs. I have no qualms about limiting those but see article's reasoning for the trouble brewing over it.

"Obamacare limits insurance carriers’ profits and administrative costs, putting added strain on the profit margins of these insurance companies, and it will eventually force the smaller insurance companies with tighter margins out of business, which ultimately works against competition in the insurance industry.

That said, what does that mean for consumers if insurance companies are not making enough profits to expand?

By forcing these companies to rebate unused insurance premiums to individuals, insurance carriers will be forced to raise premiums, because of the increasing cost of health care services, but it’s important to remember that other factors that impact insurer’s bottom lines such as frivolous lawsuits, state regulations and taxes are still in place.

How can this be sustainable?

The answer is that Obamacare was NEVER INTENDED to “sustain” the private health insurance industry- it was intended to substantially scale it back so that the number of insurance companies declines and that private, non-government healthcare insurance will only be affordable for an ever decreasing segment of our society.

Those who can’t afford it will have no other choice but to go into the government “pool” for the masses that will treat everyone with the same care and compassion demonstrated by your local DMV. And with more doctors and health care providers seriously contemplating leaving the profession altogether, everyone will be “covered” but many won’t actually receive the care or the procedures they need on a time-sensitive basis."

See more at: http://shark-tank.net/2012/09/09/obamacare-squeezing-insurance-company/#sthash.GIRN20Gz.dpuf

Obamacare limits insurance carriers’ profits and administrative costs, putting added strain on the profit margins of these insurance companies, and it will eventually force the smaller insurance companies with tighter margins out of business, which ultimately works against competition in the insurance industry.

That said, what does that mean for consumers if insurance companies are not making enough profits to expand?

By forcing these companies to rebate unused insurance premiums to individuals, insurance carriers will be forced to raise premiums, because of the increasing cost of health care services, but it’s important to remember that other factors that impact insurer’s bottom lines such as frivolous lawsuits, state regulations and taxes are still in place.

How can this be sustainable?

The answer is that Obamacare was NEVER INTENDED to “sustain” the private health insurance industry- it was intended to substantially scale it back so that the number of insurance companies declines and that private, non-government healthcare insurance will only be affordable for an ever decreasing segment of our society.

Those who can’t afford it will have no other choice but to go into the government “pool” for the masses that will treat everyone with the same care and compassion demonstrated by your local DMV. And with more doctors and health care providers seriously contemplating leaving the profession altogether, everyone will be “covered” but many won’t actually receive the care or the procedures they need on a time-sensitive basis.

See more at: http://shark-tank.net/2012/09/09/obamacare-squeezing-insurance-company/#sthash.GIRN20Gz.dpuf

Read more at: http://shark-tank.net/2012/09/09/obamacare-squeezing-insurance-company/ | The Shark Tank

Sorry. Don't know why this post did a "double post" in - Truthhurts

[ In Reply To ..]
this article. It wasn't intended. Really odd.

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