It’s no secret that Westchester has an aging population, one that will require increasing medical services, but our population of doctors also is aging.
Only two health insurance carriers in Westchester have opted to participate in New York’s SHOP (Small Business Health Option Program) exchange, and you’ve probably only heard of one of them...
Westchester businesses have until next Tuesday to give their employees a heads-up on the new healthcare exchanges. Whether you offer healthcare plans or not, under the Fair Labor Standards Act, employers are required to issue a Notice of Exchange and COBRA notice (where appropriate) to all employees by Oct. 1 and to every new employee hired after that date within 14 days of hire.
The October 1st deadline is fast approaching. Open enrollment for the healthcare exchanges and compliance requirements for all businesses will begin. Gov. Cuomo is claiming that insurance products offered through New York Health Benefits Exchange will be 53% less on average than current individual rates. But how can insurance premiums be cut in half (on average) when medical costs continue to rise? True, the individual mandate enables insurers to trim premiums, because the risk can be spread over more policyholders – including healthy individuals, who typically didn’t buy insurance before. But there has to be more to the story. There is.