Behind New York’s 2015 health insurance rates

[hrmjustin]

Nidhi Prakash

New Yorkers who purchased insurance from the state's much-touted health insurance exchange could see their premiums rise by as much as 19.7 percent or drop by as much as 12.9 percent in the coming year.

The wild swing in fortunes are a product both of the Affordable Care Act, which had provisions designed to narrow gaps between premium prices, and by the reality that insurance companies are navigating uncharted waters.

Though rate proposals, which are only requests, are backed by figures calculated by actuaries, some of the companies on the exchange told Capital they are still relying on guesswork to come up with their rates until they develop a better sense of the new market. Some said they would not have a clear idea until next year’s rate filings.

“Not to say there won’t be any issues going forward, but it appears that we’ve gotten through the harder lift and we should be able to more accurately price and make business decisions around the markets in the next year,” said Bob Hinckley, chief strategic officer for Capital District Physicians’ Health Plan (CDPHP).

http://www.capitalnewyork.com/article/albany/2014/08/8549028/behind-new-yorks-2015-health-insurance-rates

[FreakinDJ]

1. Healthcare CEOs still making several $Million per day - and File Non-Profit Tax Exempt

If there ever was a loophole looking for closure ....

[hrmjustin]

2. Agreed! Greed kills.