Posted September, 12 2023 by Mia Wagner
New Yorkers bracing for health insurance premiums in the individual market are in for some unwelcome news as we look ahead to 2024. According to the latest data, individual market rates are set to surge by an average of 12.4 percent next year. Health plans had initially requested a whopping 22.1 percent average rate hike […]
Posted July, 13 2023 by Mia Wagner
HCFANY worked hard to further a series of important priorities during this year’s budget and legislative session. Read below for a review of what consumers won this legislative session and what remains a priority on the HCFANY policy agenda. Medical Debt Over 54,000 New Yorkers were sued by hospitals between 2015 and 2020, and nearly […]
Posted July, 5 2023 by Mia Wagner
New York’s individual market premiums might increase by up to 20.4 percent in 2024. New York’s twelve individual market carriers are requesting increases ranging from 13.3 percent by MVP to a shocking 52.8 percent by Emblem. These requested increases far surpass requests from carriers in other states. Carriers in Washington and Michigan are proposing increases […]
Posted July, 6 2022 by Amanda Dunker
New York’s individual market premiums might increase by an eye-popping average 19 percent in 2023, far surpassing the requests coming in from carriers in other states. Washington and Michigan are proposing increases of just 7%, despite having comparable individual markets. Rate increases mean New Yorkers would spend a greater share of their budget on health […]
Posted June, 27 2022 by Amanda Dunker
Despite reporting record profits during the pandemic, all of New York’s 12 individual market insurance companies plan to increase premiums in 2023. Costs could increase by a whopping 19 percent on average, meaning New Yorkers would spend a greater share of their budget on health care and less on food, transportation and other necessities – […]
Posted July, 1 2021 by Amanda Dunker
Insurers offering products in New York’s individual, small group, and Medicare Advantage markets submit applications to the Department of Financial Services (DFS) each year which describes how premiums will change and why. DFS (and HCFANY!) encourage consumers to respond to these requests by share their experiences with DFS. How affordable do you think your current […]
Posted June, 25 2020 by Amanda Dunker
Each year, the Department of Financial Services reviews applications from insurers in the individual, small group, and Medicare Advantage markets and decides whether rates should go up, down, or stay the same. This year, insurers are asking for an average increase of 11.7% in the individual market, which is too much for consumers to manage […]