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New York Health Care Rates Dropping 50% Due to New Health Care Law

If you live in New York, you’re going to see a dramatic fall in your health care costs based on newly release information announced this week by Gov. Andrew M. Cuomo.

Individuals in New York City who now pay $1,000 a month or more for coverage will be able to shop for health insurance for as little as $308 monthly…With federal subsidies, the cost will be even lower.

Thanks to the Affordable Care Act state insurance companies are now required to compete for state contracts more than ever before. Plus a new influx of currently uninsured Americans will drive down rates to new lows.

Rates have been mixed for other states, but overall the new Health Care Marketplaces are increasing competition and lowering average rates across the country.

Read more about the drop in New York rates in the front page New York Times report.

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