Some New York state health insurers will be charging almost twice as much for exchange coverage as their competitors.
The New York State Department of Financial Services detailed the differences, showing how much the 17 carriers participating in the state’s Patient Protection and Affordable Care Act exchange system will be charging for individual and small-group coverage.
New York is running its own exchange program as well as setting up eight regional ones.
The list of carriers expecting to sell coverage through the state’s exchange system includes Aetna Inc. (NYSE:AET), a unit of UnitedHealth Group Inc. (NYSE:UNH), the Empire BlueCross BlueShield unit of WellPoint Inc. (NYSE:WLP), a number of local and regional carriers, and the Freelancers Co-Op, one of the new nonprofit, member-owned carriers to be created by PPACA.
At the richest, “platinum level” of coverage, individual rates for all regions will range from about $424 per month, at the Freelancers CO-OP plan, to about $914 per month at a plan run by a unit of UnitedHealth.
At the individual bronze-level, statewide average monthly rates will range from $252, at the Freelancers CO-OP, up to $548, at the UnitedHealth unit.
Similarly, in New York City, individual bronze-level rates will run from $308 at New York Fidelis to $548 at the UnitedHealth unit.