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Health Plan Cost for New Yorkers Set to Fall 50% THANKS OBAMA

Discussion in 'BBS Hangout: Debate & Discussion' started by da1, Jul 17, 2013.

  1. da1

    da1 Member

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    Health Plan Cost for New Yorkers Set to Fall 50%

    By RONI CARYN RABIN and REED ABELSON
    Published: July 16, 2013

    ividuals 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, Gov. Andrew M. Cuomo announced 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.

    “Health insurance has suddenly become affordable in New York,” said Elisabeth Benjamin, vice president for health initiatives with the Community Service Society of New York. “It’s not bargain-basement prices, but we’re going from Bergdorf’s to Filene’s here.”

    “The extraordinary decline in New York’s insurance rates for individual consumers demonstrates the profound promise of the Affordable Care Act,” she added.

    Administration officials, long confronted by Republicans and other critics of President Obama’s signature law, were quick to add New York to the list of states that appear to be successfully carrying out the law and setting up exchanges.

    “We’re seeing in New York what we’ve seen in other states like California and Oregon — that competition and transparency in the marketplaces are leading to affordable and new choices for families,” said Joanne Peters, a spokeswoman for the Department of Health and Human Services.

    The new premium rates do not affect a majority of New Yorkers, who receive insurance through their employers, only those who must purchase it on their own. Because the cost of individual coverage has soared, only 17,000 New Yorkers currently buy insurance on their own. About 2.6 million are uninsured in New York State.

    State officials estimate as many as 615,000 individuals will buy health insurance on their own in the first few years the health law is in effect. In addition to lower premiums, about three-quarters of those people will be eligible for the subsidies available to lower-income individuals.

    “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 Mr. Cuomo.

    The plans to be offered on the exchanges all meet certain basic requirements, as laid out in the law, but are in four categories from most generous to least: platinum, gold, silver and bronze. An individual with annual income of $17,000 will pay about $55 a month for a silver plan, state regulators said. A person with a $20,000 income will pay about $85 a month for a silver plan, while someone earning $25,000 will pay about $145 a month for a silver plan.

    The least expensive plans, some offered by newcomers to the market, may not offer wide access to hospitals and doctors, experts said.

    While the rates will fall over all, apples-to-apples comparisons are impossible from this year to next because all of the plans are essentially new insurance products.

    The rates for small businesses, which are considerably lower than for individuals, will not fall as precipitously. But small businesses will be eligible for tax credits, and the exchanges will make it easier for them to select a plan. Roughly 15,000 plans are available today to small businesses, and choosing among them is particularly challenging.

    “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,” said Benjamin M. Lawsky, the state’s top financial regulator.

    Officials at the state Department of Financial Services say they have approved 17 insurers to sell individual coverage through the New York exchange, including eight that are just entering the state’s commercial market. Many of these are insurers specializing in Medicaid plans that cater to low-income individuals.

    North Shore-LIJ Health System, the large hospital system on Long Island, intends to offer a health plan for individuals as well as businesses for the first time. Some of the state’s best-known insurers, UnitedHealth Group and WellPoint, are also expected to participate. Insurers may decline to participate after they receive approval for their rates, but this is unlikely.

    For years, New York has represented much that can go wrong with insurance markets. The state required insurers to cover everyone regardless of pre-existing conditions, but did not require everyone to purchase insurance — a feature of the new health care law — and did not offer generous subsidies so people could afford coverage.

    With no ability to persuade the young and the healthy to buy policies, the state’s premiums have long been among the highest in the nation. “If there was any state that the A.C.A. could bring rates down, it was New York,” said Timothy Jost, a law professor at Washington and Lee University who closely follows the federal law.

    Mr. Jost and other policy experts say the new health exchanges appear to be creating sufficient competition, particularly in states that have embraced the exchanges and are trying to create a marketplace that allows consumers to shop easily.

    “That’s a very different dynamic for these companies, and it’s prodding them to be more aggressive and competitive in their pricing,” said Sabrina Corlette, a professor at Georgetown University’s Center on Health Insurance Reform.

    But some consumers may still find the prices and plans disappointing. Jerry Ball, 46, who owns a recycling business in Queens, said the cost of covering his family increased so rapidly in the last few years that he had to scale back their coverage. Still, he pays nearly $18,000 a year for a high-deductible policy for a family of three.

    He said he would be reluctant to part ways with his insurer, Oxford, and was disappointed that even the least expensive Oxford plan being offered next year would cost about as much as he pays now.

    With another plan, he said: “Will I be able to maintain my doctors? I’m concerned that some of the better doctors aren’t going to take health insurance.”

    He acknowledged that the new law would allow him for the first time to easily switch plans, but it is still hard for him to believe it guarantees coverage for pre-existing conditions. “I have to be careful. I can’t be denied coverage, right?” he asked.

    http://www.nytimes.com/2013/07/17/h...rkers-set-to-fall-50.html?pagewanted=all&_r=0
     
  2. LosPollosHermanos

    LosPollosHermanos Houston only fan
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    Geee... Thanks Obama!
     
  3. juicystream

    juicystream Contributing Member

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    I'm so glad this wasn't already posted.
     
  4. otis thorpe

    otis thorpe Member

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    You mean under the "adverse " affects thread
     
  5. CometsWin

    CometsWin Breaker Breaker One Nine

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    Thanks Obama
     
  6. Anas acuta

    Anas acuta Member

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    New York has one of the costliest and least functional individual-insurance markets in the nation, because many of the regulations that Obamacare imposes nationwide are already present in New York, on steroids. Hence, New York’s market is far from typical.

    In 2010, average per-person monthly premiums in the New York individual market were not “$1,000 or more,” but $357. Even less expensive plans can be found today on ehealthinsurance.com. When you increase the cost by 40-50% annually since 2010, it is easy to have a "50%" reduction. You are still above where you started in 2010.

    It's false

    http://www.forbes.com/sites/theapot...polies-and-drive-premiums-skyward-hallelujah/
     
  7. Anas acuta

    Anas acuta Member

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    1) ONLY the very lowest earners / poorest which are the ones that will recieve a Fed Subsidy (which everyone else is paying for by the way) will find their coverage "affordable". But when the Govt defined "affordable" in the law, what they were talking about was the MONTHLY PREMIUM COST ONLY. The "affordability" has NOTHING to do with a person's Out-of-Pocket Exposure (ie - what the plan does and doesnt pay for under its contract, Ded amounts, Copays.... yeah right, OOP Maxs). So SHIRLEY Q LIQUOR is going to fork over $55 / month (after she gets subsidized by you and I through the tax the Feds just slapped on all our current insurers and is starting to be passed on to you and I now) on a plan that has a $5,000 or $6,000 deductible, No OV Copay, No Drug Copays, and limits her to using ONLY Hospital System "X" and ONLY the Doctors that work for Hospital System "X".

    2) So now ALLLLLLLLL these people that have never HAD insurance are all the sudden going to go out and spend $660 a year on it (when they never have before) just because the Gubmint says so. These same people who spend $200 / month on Satelite TV but send their kids to school for 3 meals a day becuase they can't afford to feed them. ALLLLLLLLLLLLLLLL these people that now have NO PRE-EX applied to them for being dumbass and not planning for the possibility they might get sick are about to slam the shat out of the healthcare system AND the ones that don't get their Obamacare sit on the sidelines and "allegedly" pay their fine with their taxes every year and are going to CONTINUE to slam the system once the SHTF with their health. Yeah, that always helps costs too!

    Yeah, it's going to work out good for everyone.
     
  8. justtxyank

    justtxyank Contributing Member

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    Actually your post is full of falsehoods.

    1) Afford ability does account for out of pocket costs in addition to the premium. You need to research the medal plans to understand how the law requires certain actuarial values to be met by all plans sold.

    2) The federal government will be offering subsidies to the poor for both premiums and out of pocket expenses. The poorer you are the better coverage you will have.

    3) You sound like a racist.
     
  9. Anas acuta

    Anas acuta Member

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    Cool facts and assumptions bro.
     
  10. justtxyank

    justtxyank Contributing Member

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    I notice you skipped the two before that one that challenged your false post?
     
  11. RedRedemption

    RedRedemption Contributing Member

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    LOL. He made no attempt at defending any of his points. Wow.
     
  12. Anas acuta

    Anas acuta Member

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    High deductibles.

    New Yorkers will be paying money for a policy that will provide little to no benefits.

    Sounds good but it's crap. Propaganda by the leftists.
     
  13. SamFisher

    SamFisher Contributing Member

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    You can still pay more money for a different plan - or you can pay $300 - why does this upset you so?

    Either way, everybody wins as there's more people in teh system, which lowers costs, and there's more options.

    Why are you so upset about a good outcome? Because Obama & government action helped to create it?

    This type of misanthropy shouldn't really enter into even a semi-serious discussion of health care policy or outcomes under it.
     
  14. justtxyank

    justtxyank Contributing Member

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    Like I said, you don't know what the medal plans are. Deductibles are actually limited (thought not to the level they thought they'd be).
     
  15. Anas acuta

    Anas acuta Member

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    This is the problem with it. Obama doesn't want anyone to be motivated to want more or to get out of poverty. Should someone who doesn't work and contribute to society be able to have dirt cheap health care because they're poor? I guess none of you disease ridden liberals would see an issue with that.

    I hope you need immediate medical attention, like a transplant, and have to be on a three year waiting list because every other non tax paying leach democrat is in line in front of you.

    Our health care system isn't perfect. But I pay lots of $ a month in FIT and I have a nice paying job ($85k-$90k). My health insurance (100% coverage) has gone from $42 a month to almost $100 a month. I have had to work my ass off, obtained my bachelors in three years and nobody has EVER given me a GOTDAMMED thing. I own a house among a lot of other things. I've worked for EVERYTHING. I've EARNED IT. Now every chit head who doesn't work and doesn't pay taxes will have accessibility to better if not the same health care options that I do. Makes sense.
     
  16. justtxyank

    justtxyank Contributing Member

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    I thought the problem with it was that while they were subsidizing premiums the plans were going to be terrible with high deductibles? Now that problem is that the plans are too good and people won't want to leave poverty because of them? LOL make up your mind friend!

    I always love it when people get called out for not knowing their facts and they end up calling me a liberal. LOL
     
  17. Rocketman95

    Rocketman95 Hangout Boy

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    Welcome to the cadre, friend!
     
  18. SamFisher

    SamFisher Contributing Member

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    So you are basically a misanthropic sh-t - who cares then what you think about health care? If you want people to die- and don't give a **** about a society that distributes health care in the optimal fashion for society to function - fair enough, but probably worth starting another thread about it.

    I had to pay extra taxes on my "Cadillac" plan this year (the premiums are way more than your dog**** 100 a month plan - seriously how the hell do you only pay 100 a month? Do they throw in leeches and an icepack and say "figure it out"?) The extra taxes I had to pay were more than you pay on healthcare for a year - so I think you're probably doing ok on your bargain-basement plan.

    I'm fine with the extra taxes since it will probably move us to a more equitable (and eventualy cheaper) health care system - that's the basic economics of insurance.
     
  19. Anas acuta

    Anas acuta Member

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    It's a competitive, well paying job that only hires about 2%-3% of the applicants (400-500 a year apply).

    But nice try. I can go ANYWHERE for any treatment I need and it's covered 100% with a nice low copay of I think $25. I'm not required to go to some in-network doctor or hospital. It is a "cadillac" insurance plan. We're getting more changes in October thanks to Obamacare.
     
  20. justtxyank

    justtxyank Contributing Member

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    Your plan doesn't cost $100 a month it just costs you that. Your employer is paying the rest.
     

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