Despite 50% “Cut” Premiums to be Higher Than in 2010

Yossi GestetnerFolks are making cartwheels over a NYT report that healthcare premiums in NY for individuals will be slashed by 50% due to Obamacare. The cheapest plan will be under $400 a month.

The Problem?

As per the Kaiser foundation, the average monthly NY premium for an individual in the individual market in 2010 was $357! So Obamacare is merely redeeming the spike in premiums it has given us over the last three years… Plus, those “cheap” plans are bare-bone; have crazy co-pays and come with hefty deductibles. All this was discussed two months ago when CA released its “cheap” rates.

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