By Chris Hoenig
New York has become the latest state to offer up proof that the Affordable Care Act is working. Governor Andrew Cuomo announced this week that state regulators have approved a structure for 2014 health-insurance premiums that will drop some rates in the Empire State by more than 50 percent.
Under the plan, New York City residents who buy their own insurance and now pay $1,000 a month or more for coverage can sign up starting in October for plans that run as low as $308 a month. That cost is calculated before applying federal subsidies, which can lower the cost even more for those making up to 400 percent of the poverty linean annual income of $23,000 for individuals and up to $92,000 for a family of four.
