Posted August, 5 2015 by Hannah Lupien
The New York State Department of Financial Services (DFS) released its final decisions on the rate review process (Don’t remember what that is? Check out our blog post about it here). The 17 carriers on the individual insurance exchange were approved for a weighted average premium increase of 7.1%, which is 3.3% lower than requested […]
Posted July, 10 2015 by Hannah Lupien
Remember our blog post about the rate review process? (If not, that’s okay, you can read it here). HCFANY spent the last month reading premium rate applications and writing up comments. We submitted 10 letters to the Department of Financial Services about plans in the individual on-exchange market. You can read each one here: Affinity […]
Posted June, 16 2015 by Hannah Lupien
As the 2015 state legislative session draws to a close this week, a troublesome “rate review”/”prior approval” bill has come up last minute and appears to be moving. The bill would weaken New York’s landmark prior approval system where state regulators review and revise health insurance annual premium rate increases. See HCFANY’s statement of […]
Posted June, 5 2015 by Hannah Lupien
New York’s Prior Approval law protects consumers Each year health insurance companies in New York submit applications to the Department of Financial Services (DFS) that explain their requests to raise, lower, or maintain the premiums they charge consumers for health insurance coverage. Thanks to a strong state law, New York’s DFS can reduce rate […]