NY state approves health exchange insurance rates - NEWS10 ABC: Albany, New York News, Weather, Sports

NY state approves health exchange insurance rates

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ALBANY, N.Y. (AP) - New York officials say they have approved health insurance rates for 17 insurers planning to offer coverage next year through the state's new Health Benefit Exchange, part of the federal overhaul expected to bring coverage to 1.1 million uninsured statewide.
    
Enrollment begins Oct. 1. Under the federal mandate to expand coverage nationally, people getting insurance through the exchange and who meet certain income thresholds can tap into an estimated $2.6 billion in federal tax credits and subsidies annually.
    
The state Department of Financial Services, which approved the rates, says the list includes eight providers that don't currently offer commercial health insurance plans.
    
The department says average rates for individuals paying for coverage directly are half of last year's rates.

MORE: http://www.HealthBenefitExchange.ny.gov

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