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Affordable Health Insurance in New York: What Most People Don't Know
Five facts most New Yorkers learn the expensive way.
1. "Affordable" on the marketplace means subsidized
NY State of Health prices are designed to be offset by the premium tax credit. Without it, you're paying the full cost of a guaranteed-issue pool.
2. There's a second market
Private shared-network plans on MagnaCare PPO price on health instead of income. For healthy people above the subsidy line they're often half the price, with a PPO.
3. Your doctor probably takes the PPO, not the HMO
National PPO networks are what most employer plans use. Many doctors in New York City and Long Island are in the MagnaCare PPO network and not in the narrow marketplace HMOs.
4. You can enroll in a private plan any month
No waiting for November. Apply by the 20th, coverage on the 1st.
5. The deduction applies either way
New York (and New York City) income taxes are among the highest in the country, so the self-employed premium deduction is worth real money here.
And one New York-specific thing
New York uses pure community rating — a 25-year-old and a 64-year-old pay the same marketplace premium — and the state restricts most non-ACA plans. Private options in New York are narrower than in other states, so the honest answer here is usually a careful comparison, not a promise of savings.
Check your options to see what affordable actually looks like for your situation.