ACA’s Impact Unveiled: EVP Troy Oechsner Presents Key Changes in New York’s Insurance Landscape
MSSNY’s EVP, Troy Oechsner, delivered an informative presentation at the Symposium on the Evaluation of the Affordable Care Act (ACA) on October 23. The symposium served as a valuable platform to delve into the transformative shifts occurring in the insurance landscape, focusing on the ACA’s impact on New York’s insurance markets.
During the presentation, Troy discussed the changes in the commercial insurance market before implementing the Affordable Care Act (ACA). Essential topics covered included the shift to pure community rating, the challenges associated with adverse selection, and the changes to pre-existing condition exclusion regulations. Additionally, the presentation highlighted the impact of the ACA on aspects such as small group sizes, standardization of contracts, consumer protections, and rate review.
Of noteworthy significance was the emphasis on contract standardization as a pivotal measure to simplify insurance comparisons and enhance the comprehension of coverage, benefiting both physicians and their patients. Additionally, the symposium delved into the role of the New York Prior Approval Law in regulating insurance rates. It explored the essential elements contributing to successful implementation, encompassing the necessity of proficient agency staff, inter-agency collaboration, and active engagement from key stakeholders, including physicians, consumers, insurers, and businesses.
