The Big Picture Updated
Current Status of New York’s Health Insurance Markets
This report provides analysis of recent activity in both New York’s private markets and state and federal managed care programs. Among its findings:
- Buoyed by strong returns in Medicare Advantage business, most commercial health plans weathered the onset of our national recession to maintain profitability in 2008.
- Increasing public program enrollment pushed two health plans specializing in that business beyond the $1 billion premium mark.
- Medicare Advantage business continued to be a reliable source of health plan profits, accounting for about $400 million.
- Article 43 insurers (i.e., insurers that operate HMOs and indemnity plans under nonprofit corporate umbrellas) posted losses of over $166 million (a -1.1% margin), compared to gains of over $480 million in 2006.
The report builds on the Fund’s comprehensive October 2009 report on health insurance markets, The Big Picture: Private and Public Health Insurance Markets in New York.
Support for this update was provided by the New York State Health Foundation.
- The Big Picture Updated (536KB)