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Health Insurance in New York

Beginning January 1st, 2014, individuals who live in New York and are not eligible for or are dissatisfied with insurance through an employer can get coverage through the health insurance exchange ("NY State of Health"). The Exchange is the ONLY place where individuals earning up to 400% of the Federal Poverty Level (FPL) ($45,960 for individuals, $94,200 for a family of four) may qualify for assistance towards paying for the cost of their coverage.

All insurance carriers that participate on the Exchange must offer a standard set of benefit options. Plans will be ranked by "Metal Level": Platinum, Gold, Silver, Bronze. There is a Catastrophic plan for those under 30 or suffering a financial hardship. For those between 100 - 250% of the FPL, there are advanced Silver level plans with lower out of pocket costs.

All plan designs are standard between all of the carriers on the Exchange - the only difference will be the monthly cost and network of doctors.

Please see the spreadsheet outlining the basic benefits offered on the Exchange, as well as rate information. Remember, these rates are an estimation, as you may be eligible for premium assistance or cost-sharing reductions.

The brokers at Total Capital Planning are happy to discuss options in detail. They can assist in determining your eligibility for tax credits or cost sharing reductions. Please feel free to call 212 879 0122 or email to set up a time to review your options.

Craig Allen & Nathan Short