“Merging the Markets: Combining New York’s Individual and Small Group Markets into Common Risk Pools” –a new report released by the United Hospital Fund (“UHF”)–explores the impact of merging the markets for three insurance products: (1) direct pay (individual, non-employer insurance); (2) Healthy New York (a limited benefit HMO product subsidized by the State for certain low-wage individuals and businesses), and (3) Small Group (employers with 2-50 employees) markets into a common actuarial pool. According to the report, if New York combined all three markets, the direct pay premiums could decline by 38%, Healthy NY premiums would increase by 43% and small group premiums would increase by 0.6%.