Monday 22 September 2014

Obamacare changes coming to CNY; One insurer dropping out, another expanding


Syracuse, N.Y. -- Five insurers will be offering "Obamacare" health coverage in Central New York through the state insurance exchange in 2015, one less than this year.
Today's Options, a plan offered this year by American Progressive which enrolled fewer than 100 people in the region, is dropping out of the exchange next year.
Consumers will continue to see big price variations among insurers for the same type of health plan.
Health Republic, a new federally subsidized insurance co-op which enrolled more people in private health plans in Onondaga County and statewide than any other insurer and has some of the lowest prices, will expand its footprint in Central New York.
Health Republic, limited to Onondaga County this year, will begin offering coverage next year in Oswego and Cayuga counties.
Central New Yorkers in the market for individual coverage will have four insurers to choose from in each county. In Onondaga, Oswego, and Cayuga, the four plans will be Excellus, Fidelis, Health Republic and MVP. In Madison County, the participating insurers next year will be CDPHP, Excellus, Fidelis and MVP.
The state today released the line-up of health plans by county that will operate on the exchange next year.
Excellus, Health Republic and MVP will offer small business coverage through the exchange in Onondaga, Oswego and Cayuga Counties. In Madison, small business coverage will be sold by CDPHP, Excellus and MVP.
Health Republic once again is offering the lowest monthly premium rates in Central New York. For a "silver plan," the most popular plan on the exchange that pays on average 70 percent of medical expenses, Health Republic's monthly premium next year will be $285.35. That about 45 percent less than CDPHP, which will be offering the same plan for $520.19.
Lower-priced plans like Health Republic tend to have fewer doctors and hospitals participating in their plans than higher-priced plans.
2015 monthly premium rates in Central New York for an individual "silver plan," which pays, on average, 70 percent of medical expenses:Health Republic: $285.35
Fidelis: $379.08
MVP: $470.63
Excellus: $506.15
CDPHP: $520.19

Source: State Department of Financial Services

The state exchange, which debuted in October of 2014, is part of the federal Affordable Care Act, also known as Obamacare. Under that law, nearly all Americans are required to have health insurance or pay a penalty.
The first open enrollment period went from Oct. 1. 2013 through April 15. The next open enrollment period begins Nov. 15.
During the first open enrollment period, about 12,420 Central New Yorkers signed up for private health plans and 14,580 enrolled in Medicaid, the government health insurance program for the poor.
Contact James T. Mulder anytime: Email | Twitter | 315-470-2245





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