Enrollment in individual health insurance coverage increased sharply in New York in 2014, the first year of full implementation of the Affordable Care Act, though overall net income for New York health plans dropped considerably.
The Big Picture VI: New York's Private and Public Insurance Markets, 2014 is the sixth installment in UHF's Big Picture series. It provides context and nuance for broad trends in New York's insurance markets, analyzing enrollment and financial data across health plans and lines of business to create a comprehensive snapshot of the markets since the implementation of the ACA.
In addition to tables and charts summarizing movement in the state's insurance markets, the report explores issues to watch going forward: challenges in sustaining a stable individual market, the shrinking small group market, and signs of an aging regulatory infrastructure. According to the report, these will come into play as the health insurance marketplaces continue to evolve in the face of new state and federal policy initiatives and continuing cost pressures.
In conjunction with this chartbook, UHF has published four Big Picture “snapshots” focused on particular issues related to the Affordable Care Act and their effects on New York's insurance market. The first snapshot report, After the Reinsurance Is Gone, looks at the Transitional Reinsurance Program. The second, The Next Wave, considers the impact of two proposed mergers on New York's insurance market. The third, New Life-and Covered Lives, examines steps New York took to improve its individual market. The fourth, New York's Temporary Premium Subsidies, lays out lessons to be learned from a creative and effective temporary subsidy program.
Read the related press release. https://uhfnyc.org/news/881162
Support for the United Hospital Fund's Health Insurance Project is provided by the New York Community Trust.