New York – 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.
A decade ago, about 100,000 people in the city bought their own insurance coverage. That’s now down to coverage for 13,335, according to the Insurance Department.
State officials and consumer groups hope the start of so-called Obamacare in 2014 can reverse the trend. The President’s sweeping health care overhaul is expected to increase access and decrease the cost of care.
Under Obama’s law, people will be able to buy coverage through insurance exchanges established by the state. New York officials also believe a new state law requiring companies to seek Insurance Department approval before raising rates will slow rate spikes.
(Source: NY Daily News)
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9 Responses
Can’t be true…the so-called Health Care reform is nothing but Liberal Socialist Anti-American Obamacare…I read that here all the time!
There is a direct correlation to the spike in health care costs and the passing of obamacare
This just makes life harder for those of us who get paid on the books and work hard to make ends meet. most of my friens are making big cash and live nicely off cash and scammed benefits. Injustice. may g-d help us all se that the right path .and those who need help with parnassha should have osher vekovod
You mean: OBAMACARE prices in NYC skyrocket, residents can’t wait for the OTHER PART of Obamacare to kick in…
The tragedy of this is that people think they will get free care for the small things. Nothing is free.
Secondly, the more serious an illness, Chas V’Shalom, the greater the “review board” will look at it to determine if they want to provide the coverage. That “review board” will have the option of denying coverage and no money in the world will allow the person to get any medical attention.
Like all things Obama, it’s upside down.
To my fellow liberals:
Don’t worry, this is all part of the plan. When ObamaCare fully kicks in, it will force the insurance companies to raise the premiums so high, that nobody will be able to afford them anymore. They will then go out of business, and then we will finally have Universal Health Care, where everyone gets their rationed healthcare from the federal government.
That day will be here very soon, and it will be the day when everyone is finally equal. Everyone will get the same preventive treatment, whether they can afford it or not. Nobody will be able to get any special treatment. The rich people will not be able to get any of their special surgeries if that same treatment is not available to EVERYONE, including undocumented immigrants and the poor.
America is the only country in the world that doesn’t have socialized medicine, which is why America has the worst healthcare system in the world. Men, women, and children are dying every day because of the terrible healthcare that we have in this country.
During the snowstorm in NYC, people died because the ambulances wouldn’t pick them up because the insurance companies wouldn’t pay. When ObamaCare finally kicks in, these situations won’t happen again.
No. 3: You need a better class of friends.
nfgo3 – You’re kidding, right?
No. 8: I was not kidding in my comment no. 7. No. 3 describes his friends as tax cheats and insurance scammers. Clearly, he needs a better class of friends, especially because he does not do what they do.