Author Topic: Net health insurance premiums - is NY best?  (Read 510 times)

mathstach

  • 5 O'Clock Shadow
  • *
  • Posts: 22
  • Age: 29
  • Location: NYC
Net health insurance premiums - is NY best?
« on: April 25, 2019, 05:49:43 PM »
As far as net health insurance premiums are concerned, after government assistance, is New York always the lowest cost state?

I'm assuming, here, that we restrict attention to early retirees whose household income does not exceed 400% of the federal poverty line.

Here is my thinking: below 138% of the federal poverty line, there is Medicaid in New York state.

Between 138% and 150% of the federal poverty line, there is the first tier of the New York essential plan, which costs $0/month.
Between 150% and 200% of the federal poverty line, there is the second tier of the New York essential plan, which costs $20/month.

And, from 200% to 400% of the federal poverty line, the usual Affordable Car Act premium tax credits apply to reduce costs for, say, the second lowest cost silver plan purchased on New York's state exchange to the expected contribution, just like in any other state/county.

However, I am not aware of any states beyond New York and Minnesota that have health insurance for anything close to $20/month for those between 138% to 200% of the federal poverty line, so it seems New York and Minnesota are cheapest; and New York's plan is cheaper than the comparable plan in Minnesota at this income band.

Thus, I'm thinking New York is cheapest as far as health insurance premiums are concerned, with the above-mentioned restriction.

Am I missing anything? Do you know about programs in other states that I might not have heard of?

ysette9

  • Magnum Stache
  • ******
  • Posts: 4651
  • Location: Bay Area, CA
    • Insert Snappy Title Here (Journal)
Re: Net health insurance premiums - is NY best?
« Reply #1 on: April 25, 2019, 08:03:30 PM »
What level of ACA coverage are you talking about? Iíve priced out some damn cheap bronze plans in WA and CA.

Monkey Uncle

  • Handlebar Stache
  • *****
  • Posts: 1475
  • Location: West-by-god-Virginia
Re: Net health insurance premiums - is NY best?
« Reply #2 on: April 26, 2019, 06:51:34 AM »
If you can optimize your income such that you're just barely above the break point between expanded Medicaid and ACA, you can get a silver plan for essentially free.  Doesn't matter what state you're in.  Of course, the quality of the available plans may vary widely from state to state.  My wife and I are currently paying $13/mo for a darn good BCBS silver plan.

jim555

  • Handlebar Stache
  • *****
  • Posts: 1991
Re: Net health insurance premiums - is NY best?
« Reply #3 on: April 26, 2019, 07:32:00 AM »
New York was one of the few states that implemented the little known Basic Health Program option of the Affordable Care Act.  Between 138% and 200% it is like a super Medicaid plan, but not Medicaid.