The Big Picture Updated

Current Status of New York’s Health Insurance Markets

Author/Editor: Peter Newell, Allan Baumgarten, and Jenny Heffernan

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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.
 

Copyright: 2010
Published: 03.17.2010

 

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