Linda Tiano Quoted in Article, “Obamacare to Slash Premiums in New York. Was Obama Right All Along?”Christian Science Monitor July 17, 2013
Linda Tiano, a Member of the Firm in the Health Care and Life Sciences practice, in the New York and Washington, DC, offices, was quoted in an article titled "Obamacare to Slash Premiums in New York. Was Obama Right All Along?"
Following is an excerpt:
One of the centerpieces of Obamacare bloomed Wednesday when New York Gov. Andrew Cuomo (D) announced the new state-run insurance exchange would cut costs by more than half.
State regulators have just approved the premiums the exchange will offer, and, on average, they represent a 53 percent reduction of previous individual rates. Any uninsured person or a small business with fewer than 50 employees will be able to purchase this insurance through New York's Health Benefit Exchange, an online marketplace of 17 companies offering four grades of insurance — as mandated by President Obama's 2010 Affordable Care Act.
"New York is a little bit unique," says Linda Tiano, a health care attorney with Epstein Becker Green in New York. "Nobody really wanted to be in that business in New York, or redesign their regular networks for individuals, and this made it a very, very expensive product."
"Going on the premise that some of these healthy people are now going to sign up, then you assume your actuarial costs are going to be lower, because you assume utilization will be less than it is now," Ms. Tiano says. "People made those assumptions; they may or may not turn out to be true."