Fluctuating Incomes Could Cause Many New Yorkers to Lose Health Insurance

1.5 million New Yorkers could lose health insurance coverage due to fluctuations in their incomes and eligibility, says a report by the Coalition of New York State Public Health Plans. This was reported in wgrz.com.

This is because of fluctuations in incomes and eligibility for certain programs, and subsidies. Thirty percent of non-elderly residents who are below 400 percent of the federal poverty level - which comes to $76,360 annually for a three-person family - could be affected.

New Yorkers with incomes that are just above the cut-off for Medicaid eligibility will be most impacted, the report said.

The release of the study follows Gov. Andrew Cuomo's executive order last week for New York to set up a health-insurance exchange by 1 Jan. 2014, as required under the federal Affordable Care Act.

The exchange, a marketplace for individuals and small businesses to purchase coverage, will expand options available to New Yorkers with annual incomes less than 400 percent of the federal poverty level.

It will provide new options for the state's roughly 2.6 million uninsured.

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Source-Medindia