4 years ago
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New Yorkers to Get 50% Cheaper Insurance
New York State residents will be paying much less for health insurance under Obamacare. However, this price drop is unlikely to be repeated in other states because New York already mandated many of the benefits of Obamacare, without requiring everyone to buy insurance. This meant that the market was filled with a small pool of sicker residents (17,000 New Yorkers buy their own insurance right now, while 2.6 million lack coverage). Under Obamacare, healthier residents will flood the market to avoid paying a penalty, driving costs down for everyone.
robertr clipped in 1 collections
So Obamacare is driving these price reductions? How are the health insurers going to fight this one...
Basically, new york law mandated the good parts of obamacare without the extra penalty (---tax---) now, the penalty will force healthy people to get insurance which expands the market and drives prices down.