ALBANY, N.Y. (July 11, 2022) – NY State of Health, the state’s official health plan market, today released a Health Insurance Coverage Update: Impact of ARPA Subsidies. The registration report, which compares data from March 2020 to May 2022, describes how millions of New Yorkers have benefited from access to comprehensive and affordable coverage through the Market thanks to the flexibility allowed during the Federal Public Health Emergency. (PHE) and COVID-19 ARPA. premium subsidies. Currently, the enhanced federal subsidies do not extend until 2023 and the New York uninsured rate is expected to increase, thus reversing the progress in insurance coverage made since the beginning of the year. pandemic.
Read the June 2022 Market Health Insurance Coverage Update: Impact of ARPA Subsidies here.
“Due to the ongoing COVID-19 pandemic, the importance of accessing and maintaining health coverage as the gateway to accessing healthcare has never had such global significance,” the Director said. NY State Health Executive, Danielle Holahan. “Without an extension of these subsidies, New Yorkers will receive notice of sharp premium increases in October ahead of the annual open enrollment period, and we expect tens of thousands of New Yorkers to give up coverage they feel who can no longer bear it. “
The U.S. Rescue Plan Act (ARPA) has significantly reduced health care costs by introducing higher premium subsidies for those enrolled in the current and new Qualified Health Plan and expanded eligibility for these grants to include higher-income individuals for the first time. These improvements have given consumers the security of health coverage when they lost their jobs and / or income during the pandemic, and provided access to health care when they needed it most. All Qualified Health Plans include comprehensive benefits, including hospital care, doctor visits, mental health and substance use services, and prescription drugs.
The report finds that without the improvement under ARPA, the premiums for eligible consumers eligible for the subsidy would be 58 percent higher, or $ 1,450 more per year. If ARPA premium subsidies expire at the end of the year, about 20,000 New Yorkers could become uninsured because their health insurance is too expensive. The report goes on to find that low-income communities of color will be disproportionately affected if these subsidies are not extended – reversing the important progress made in advancing health equity. Individuals at highest risk for loss of coverage when ARPA tax credits expire are those who lose eligibility for Medicaid or Essential Plan (EP) coverage when PHE COVID-19 ends but does not cannot afford Qualified Health Plan (QHP) coverage in the absence of these enhanced subsidies.
On June 3, the NYS Department of Financial Services (DFS) announced health insurers ’rate claims for next year, with an average requested increase of 18.7 in percent in individual market premiums for 2023 – the largest increase requested since 2019. DFS has an August deadline to approve 2023 premium rates.
NY State of Health is open for registration for all programs: Medicaid, EP, CHP, and QHPs. Coverage has automatically been extended to those enrolled in Medicaid, EP, and CHP during PHE, but consumers again want to take action to maintain their coverage once PHE ends.
To avoid coverage gaps, consumers can choose to receive warnings with the NY State of Health text for important health insurance updates, including when it’s time to renew. Consumers can sign up for text alerts by texting START at 1-866-988-0327.
Consumers can enroll in a health plan by:
All health plans offered through NY State of Health cover preventative care, such as routine doctor visits and screenings, at no additional cost. For more information on Market health plans and coverage coverage, visit: nystateofhealth.ny.gov
Consumers continue to have a choice of health plan options and can use the NYS Provider & amp; Health Plan Search Tool to search for preferred provider networks, including doctors and hospitals. Free registration assistance is provided in local communities across the state.
For additional information, visit the NY State of Health website at: nystateofhealth.ny.gov.
