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Wednesday, November 8, 2006

NY to offer HSAs for low income families

New York's Healthy NY program, which offers subsidized health insurance plans for low-income workers will offer high-deductible health plans designed to be used with health savings accounts (HSA).

Healthy NY provides basic health insurance coverage to New York residents with annual incomes of up to $25,125 for an individual or $49,875 for a family of four.

The New York Department of Insurance said the new plan will reduce health insurance premium costs by as much as 25% for some workers and will have deductibles of $1,150 for individuals and $2,300 for families.

Health NY also will be expanded next year to provide health coverage for prostate screenings, home health care, and physical therapy after hospitalization or surgery. To be eligible, applicants must be employed or have been employed within the last year

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