What are the Best Health Insurance Options in New York?
Some New Yorkers may be overwhelmed when they try to choose the most appropriate health insurance plan that suits them. This may be because of three factors. Firstly, various channels deliver health insurance in the state of New York. Secondly, the eligibility of the consumer depends mainly on his or her circumstances. Thirdly, the New York health insurance market is one of the very highly regulated markets.
New York Health Insurance Exchange
New York Health Insurance Exchange is available for New Yorkers so they can shop around and choose the plan that fulfills their needs. But this option comes with a clause. Their incomes should be above 133% and below 400% of the Federal Poverty Level. Affordable options should not also be available to them through their employers.
For those whose incomes are below 133% of the Federal Poverty Level, Medicaid coverage is available. It will be an insurance carrier that will be delivering this coverage through an appropriate health plan.
Child Health Plus Plans
For covering children below 19 years of age whose households earn incomes more than the Medicaid thresholds, Child Health Plus plans that come with reduced premiums are there. The amount that has to be contributed by the family depends on the income level of the family and the number of children in the household.
According to this Rider, young adults below the age of 27 are eligible for coverage under the health insurance plans of their parents. Parents have to pay a small additional premium for covering their children until the children reach 29 years of age. The rule applies even if the children are financially independent.
Health insurance marketplace in New York
There are sixteen players selling insurance plans in the New York health insurance market. Among them, MVP Health Plans and Health Republic Insurance of New York are selling their plans all over the state. Other insurance carriers sell only in select regions.
Medicaid Health Insurance Coverage
Households that earn less than 133% of the Federal Poverty Level are eligible for this coverage. Children are eligible for Medicaid if the household income is less than 154% of the Federal Poverty Level. In the case of pregnant women, they are eligible for Medicaid if the income of the household is less than 223% of the Federal Poverty Level. Depending upon the place where they live, people can choose the health plans as well as the insurance companies. Every plan will have a network of healthcare providers and doctors.
Child Health Plus Coverage
Even children from households that earn high incomes are eligible for health insurance that is known as Child Health Plus Coverage. But the income of the household should be less than 400% of the Federal Poverty Level.
Insurance companies and the areas in which they offer their plans.
- Affinity Health Plan is offering their services in Mid Hudson, New York City, and Long Island.
- BlueCross BlueShield of Western NY is the carrier that caters to the needs of those residing in Buffalo.
- BlueShield of Northeastern NY serves residents of Albany, Buffalo, Utica / Watertown.
- CDCHP serves those who live in Albany, Mid-Hudson, and Syracuse.
- Empire HealthChoice HMO, Inc. offers its services to residents of Albany,
Mid-Hudson, New York City, Utica / Watertown, and Long Island.
- Excellus Health Plan is the insurance carrier that serves those who live in
Albany, Mid-Hudson, Rochester, Syracuse, and Utica / Watertown.
- Health Insurance Plan of Greater New York offers its plans to residents who live in Albany, Mid-Hudson, New York City, Utica / Watertown, and Long Island.
- Health Republic Insurance of New York serves all the areas in the state.
- Healthfirst PHSP offers its plans to residents of New York City and Long Island.
- Independent Health serves only the residents of Buffalo.
- MetroPlus Health Plan serves those who live in New York City.
- MVP Health Plans is another insurance carrier that serves all the areas of the state of New York.
- North Shore LIJ offers its services to residents of New York City and Long Island.
- Oscar Insurance Corporation caters to the needs of those who live in New York City and Syracuse.
- United Healthcare of New York serves the health insurance needs of the residents of Mid-Hudson and New York City.
- Univera serves the needs of those who live in Buffalo.