New York an Insurance Lab on Skyrocketing Rates - NYTimes.com
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New York’s insurance system has been a working laboratory for the core provision of the new federal health care law — insurance even for those who are already sick and facing huge medical bills — and an expensive lesson in unplanned consequences. Premiums for individual and small group policies have risen so high that state officials and patients’ advocates say that New York’s extensive insurance safety net for people like Ms. Welles is falling apart.
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Now, just think what will happen as millions of young, healthy people refuse to buy insurance, instead opting to pay the penalty?
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The healthier customers soon discovered that the high premiums were not worth it and dropped out of the plans.Without healthier people to spread the risk, their premiums skyrocketed, a phenomenon known in the trade as the “adverse selection death spiral.”
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The NYTs - all the news that fit to print...a day late and a dollar short.
Individual policies through HMO's have gone down from 128,000 to 31,000 - it's just too damn expensive.
Premiums are the highest in the nation.
We have many examples of how NOT to structure a HC bill - it all fell on deaf ears.
Repeal or defund, the only sensible solution to this disaster.
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