New York officials Tuesday unveiled the name of the state’s new health-care exchange – part of the federal Affordable Care Act – and said it would be open by Oct. 1.
“New York State of Health: The official health plan marketplace” will be open for business this fall with participants expected to see a drop of up to 53 percent in their health care costs, officials said. More than 1 million state residents without insurance are expected to enroll.
“There’s no question about it. New York’s exchange is delivering some big savings for New Yorkers,” said Donna Frescatore, executive director of the New York Health Benefit Exchange.
The state approved health insurance plan rates for 17 participating insurers, including Empire BlueCross BlueShield, Excellus and MVP Health Plan. Officials say participants will have their choice of dozens of plans.
For information on the health plans by county, click here.
Following new federal law, insurers can not set rates based on an individual’s health history, instead only using age, place of residence and size of family.