What do I need to know?
The New York Department of Financial Services has advised New York health insurance carriers of major changes to the Healthy NY program. Beginning January 1, 2014, Healthy NY will no longer be available for individuals or sole proprietors and the program for small employers will change. All current Healthy NY coverage in place at 11:59 PM on December 31, 2013 will be discontinued. This includes grandfathered coverage.
Eligible small groups may transition to a new small group Healthy NY plan that will comply with the requirements of the Affordable Care Act, including offering all “Essential Health Benefits”. (The new Healthy NY small group plan will be the standard HMO plan at the “gold metal” level. Different premium rates will apply.) Individuals and families will be able to shop for and enroll in coverage on the New York Health Benefit Exchange beginning in October 2013 for coverage starting January 1, 2014.
We will begin mailing the required notifications to impacted Healthy NY policyholders this month to announce the upcoming coverage and premium changes for 2014. There will be a second notice later this year with more details about available products and rates.
Sample HNY notices:
Individuals, sole proprietors and small employers can continue to purchase Healthy NY coverage through 2013 but all policies will terminate on December 31, 2013. We recommend that anyone purchasing a high deductible plan take into consideration that the plan will not run for a full 12-month period.