Your Guide to New York Health Insurance
Before we jump right into New York health insurance and everything you need to know, let’s start with a little background information. In 2010, the Affordable Care Act (a.k.a “Obamacare” or ACA) was passed with the goal of getting all Americans access to affordable health insurance. To meet this goal, one measure Obamacare took was to create the ACA health insurance marketplaces, or health exchanges: one-stop shops where Americans can choose from a range of standardized, government-regulated health care plans. Health exchanges are also where eligible people can get subsidies, which lower the cost of their health plans.
States were given the option to run their own local exchange, take part in a multi-state exchange, or use the federal exchange. States that run their own exchanges get to customize many elements, including the time frame during which their residents can sign up for a plan. Several states decided to operate their own state exchanges and continue to do so to this day. New York is one of those states.
Most New Yorkers enroll in a health plan during Open Enrollment Period in the fall. If you want reminders to enroll for a 2022 plan, pre-register today.
New York’s Health Insurance Landscape: Then and Now
The New York health insurance exchange is called New York State of Health. Before the ACA, 16 percent of New Yorkers were uninsured. Since the introduction of New York State of Health, the percent of New Yorkers without health insurance has dropped to 5! Over 4.9 million people enrolled for 2020 health insurance through New York State of Health.
The New York Health Insurance Exchange
New York State of Health is where eligible people throughout the state can find subsidized ACA plans. Open Enrollment for 2022 in New York begins November 16 and ends January 31. Lucky you—this sign up window runs later than the window given on the federal exchange.
The New York State of Health is a fairly unique exchange because it is one of only two states that has a Basic Health Program (BHP), also known as the Essential Plan. The BHP is designed specifically for people who have incomes that are just slightly above the upper limit for Medicaid eligibility (about 797,000 New Yorkers.). The BHP in New York costs $20 per month and has plans available from several carriers.
Like all other state exchanges, each plan on New York State of Health covers 10 essential health benefits. These include things like prescription coverage, maternity and mental health care, and laboratory services.
Buying insurance with New York State of Health involves four steps:
1. Create an account on New York State of Health
2. Complete the online application form
3. Compare your options
4. Select your plan and enroll
In true health insurance fashion, each of these steps can be trickier than you expect. Many people need help navigating the website, estimating their income, figuring out if they are eligible for subsidies, and understanding what documents are needed for proof of income, citizenship, or identity. Working with Stride makes this process much faster and easier, while still allowing you to enroll through New York State of Health with the same plan at the same price.
New York State of Health’s Intricacies: What You Need to Know for 2021
All insurers that offered plans on New York State of Health for 2021 will continue to do so for 2022. This means all 12 carriers are returning to the exchange. These 12 carriers include:
Capital District Physicians’ Health Plan
Emblem Health
Empire
Excellus Health Plan
Fidelis Care New York
Healthfirst PHSP
Highmark Western and Northeastern New York (formerly HealthNow New York)
Independent Health Benefits Corporation
MetroPlus Health Plan
MVP Health Plan
Oscar
UnitedHealthcare of New York
As of 2019, Fidelis Care New York, Healthfirst PHSP, Oscar, Excellus, and Emblem Health made up the majority of the New York health insurance market. New Yorkers are lucky because New York State of Health has one of the most robust exchanges in the country. This means you have a pretty good selection when choosing a plan.
If you live in New York, the start of Open Enrollment (the time of year when you can enroll in a new health plan) is just around the corner. Start preparing now to find your most affordable plan, and you’ll be well on your way for smarter, better savings all year long. And don’t forget—if you need help finding a subsidy or picking a plan, our experts are here to help!
Pre-register today for Open Enrollment reminders.