Thursday, July 18, 2013

The true story of New York's health insurance premiums

The New York Times ran a story on Wednesday highlighting how Obamacare would cut premiums in half for the Empire State.

Avik Roy took a sledgehammer to it, explaining why New York premiums are already so high (hint: not because it's too much of a free market) and how Obamacare will actually affect price.

From that piece:
People who aren’t familiar with Empire State’s unique circumstances have been quick to presume that rate reductions in New York under Obamacare mean that the law will bring down rates nationwide. The Times was content to leave its readers with this misunderstanding. 
I’m told that President Obama will even give a speech today at 11:30 a.m. ET to tout the New York results. But lower rates in New York is hardly a surprise; as Obamacare advocate Timothy Jost put it, “If there was any state that the ACA could bring rates down, it was New York.”
Elsewhere, Michael Cannon shows how President Obama is effectively saying that only he -- not Congress -- can amend his health care overhaul.

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