Healthyny Announces Major Changes to Small Business Health Insurance Program

R.I.P. HealthyNY

The New York Department of Financial Services has announced that beginning in January 2014 there will be major changes to the health insurance programs provided to small businesses and individuals. All current health insurance programs will be discontinued at 11:59 PM December 31st 2013 and new plans that meet the requirements of the Affordable Care Act will be offered at the “Gold Level.”

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.