tl• REUTERS July r. 2013 Obamacare To Cut Cost Of Health Coverage By Half For Many New Yorkers By Caroline Humcr Many New York state residents who buy health insurance next year will most likely see their premiums cut by half as President Barack Obama's healthcare law creates subsidies that may increase the number of people in this market by the hundreds of thousands. Information on the state's rates, which will figure in a national debate over whether "Obamacare" will make health insurance more affordable, was released on Wednesday by Governor Andrew Cuomo. The figures represent some of the biggest discounts seen among a handful of states that have disclosed price information for the plans, which will begin to be offered to consumers on Oct. 1. California announced in May that rates would fall as much as 29 percent. But state officials later came under fire from conservative commentators who said rates could more than double for some people, depending on the demographic. The average premium of the most comprehensive health insurance plans in New York, known as "platinum" and "gold" plans, will fall 53 percent, the date released by Cuomo showed. The figure is based on rates approved for plans from 17 insurers, including the nation's largest, like UnitedHealth Group Inc. and WellPoint Inc. When compared with the other less-expensive plans, such as the "silver" and "bronze" plans expected to make up most of the exchange market nationwide, the average decline in price from current rates in the individual market is even higher. New York's future pricing is largely influenced by its current market for individual plans, with health insurance more expensive than in much of the rest of the country. Only about 17,000 people buy insurance in New York's direct-pay market, a New York Department of Financial Services spokesman said. That number is expected to grow by 615,000 over the next few years and more than half are expected to receive governme