Beginning in October, individuals in New York City who now pay $1,000 a month or more for
coverage will be able to shop for
health insurance for
as little as $308 monthly. With federal subsidies, the cost will be even lower.
Supporters of the new health care law, the Affordable Care Act, credited the drop in rates to the online purchasing exchanges the law created, which they say are spurring competition among insurers that are anticipating an influx of new customers.