Health Insurance HMO Prices in New York City Non-Affordable for Many

May 31, 2011
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The number of HMOs serving New York City has also dropped from 13 in 2004 to seven today.  I’m guessing that the bankers on Wall Street aren’t paying this as they get a discounted employer plan so who does that leave out there?  The numbers have dropped from around  100,000 individuals to just over 13,000 so that’s a good indication right there and there appears to be no end in sight as the rates for many are 30% higher than last year.  When you look at family coverage at over 8k, you do wonder who can afford this?  BD 

The number of HMOs serving New York City has also dropped from 13 in 2004 to seven today.  I’m guessing that the bankers on Wall Street aren’t paying this as they get a discounted employer plan so who does that leave out there?  The numbers have dropped from around  100,000 individuals to just over 13,000 so that’s a good indication right there and there appears to be no end in sight as the rates for many are 30% higher than last year.  When you look at family coverage at over 8k, you do wonder who can afford this?  BD 

ALBANY – For city residents forced to buy their own health insurance, President Obama‘s sweeping health care law can’t take effect soon enough.

Premium rates for personally funded HMOs soared last year as the number of insurers competing for business has dropped dramatically since 2004, the Daily News has learned.

One company, GHI HMO Select, is now charging individuals $3,319 a month. And GHI family coverage is a jaw-dropping $8,463 per month, the state Insurance Department said. Those rates are nearly 8% higher than last year’s.

Managed Health Inc.‘s premiums are a whopping 30% higher this May compared with last year – the biggest increase in the city.

Health care prices in New York City skyrocket, residents anxious for Obamacare policy to kick in