The Big Picture Updated
This NYSHealth-funded, United Hospital Fund report, “The Big Picture Updated,” provides an analysis of more recent activity in New York’s private markets and public health insurance programs. It follows up on a report released by the United Hospital Fund in October 2009, “The Big Picture: Private and Public Health Insurance Markets in New York,” which provided a comprehensive review of New York’s commercial, Medicare, Medicaid, and self-funded insurance markets.
According to “The Big Picture Updated,” health plans in 2008 endured the consequences of a challenging economy by maintaining profitability and ample reserves through programs such as Medicare Advantage—which accounted for profit margins of approximately $400 million—and growing enrollment in public insurance programs. At the same time, commercial group enrollment declined by more than 500,000, but health plans collected more than $46 billion in premiums for coverage in 2008, an 11% increase compared to 2006. The report also finds that HMOs earned less on their small group business than on their individual and Healthy NY products.
Please click here to read the full report.