ALBANY, N.Y. (AP) — President Barack Obama's federal health care overhaul, known as the Affordable Care Act, requires every state to have a new health insurance marketplace called an exchange.
The exchange will be an online shopping center for small business and for people who don't get health coverage from their employer. Users will be able to compare the costs and benefits of various insurance plans, and they'll be able to find out whether they qualify for federal subsidies to help pay their premiums.
Here are answers to some common questions about the New York health insurance exchange:
Q: How many people are uninsured in New York and how many of those are projected to get insurance under the exchange?
A: New York has an estimated 2.7 million uninsured among roughly 19 million residents. A state analysis indicates they will enroll about 1.1 million people through the New York Health Benefit Exchange.
Q: How many people in New York are currently served by Medicaid and how many more will be served if New York chooses the Medicaid expansion?
A: New York already provides most of the expanded Medicaid coverage called for under the new federal law and covers 5.1 million people, including residents with incomes up to one-third above federal poverty guidelines. The state is expected to enroll another 500,000 people, including 75,000 newly eligible and 425,000 already eligible but not enrolled. The state will receive about $1 billion more in federal support for the program in the coming fiscal year.
Q: How many small businesses are likely to take advantage of the health insurance offered on New York's exchange?
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