OBAMACARE: NY Individual Insurance rates drop by 50% because of Obamacare

New York Gov. Andrew Cuomo (D) announced Wednesday that prices for individual health insurance policies are on the brink of plunging 50 percent or more thanks to provisions in the Affordable Care Act.
A spokesperson for the governor’s office told The New York Times that the new rates mean that individuals with health policies currently running over $1,000 a month will soon be facing bills up to just $308, and even less after a subsidy from what critics have dubbed “Obamacare.”
The change comes thanks to New York’s online insurance exchange, a key provision of the Affordable Care Act that forces insurers to compete with one another. The 2014 rates were approved for the marketplace by New York’s insurance regulator on Wednesday, and should be in effect by October. The news can only sound like relief to the 18 percent of New Yorkers who are either uninsured or pay for an individual policy — a pool of just over 2.6 million people, the Times estimated.

For people living in 24 states like Texas, Oklahoma, Florida or Wisconsin, where Republican governors are refusing to set up the federally-mandated health insurance exchanges, hold on tight: the Obama administration is setting up exchanges that supersede the states, and Americans should be able to buy discounted health insurance by this time next year.


http://www.rawstory.com/rs/2013/07/17/obamacare-to-slash-individual-new-yorkers-health-insurance-rates-by-50-percent/