The New York Department of Financial Services (the Department) reduced individual market carriers’ requested rate increases by 71 percent for plan year 2027. Carriers initially requested a 21 percent average rate increase—the highest of the past seven years—but through New York’s prior approval process, the Department cut this hike to an average of six percent. Of the approved rates, four carriers were not permitted to raise premiums (received an approved rate of zero percent), while one carrier’s approved rate was a premium decrease of three percent.

Without this process, rates requested by insurance carriers would have required New Yorkers to pay an average of $2,065 more annually, or $172 more per month, in premiums next year. With the newly approved rates from the Department, the annual increase in premiums is now $600, or $50 per month, for next year.

The table below compares health plans’ initial rate requests with rates that were ultimately approved, providing insight into how this process impacts health care costs (HCFANY’s detailed comments on each carrier’s rate request can also be reviewed here).

The prior approval process serves as an essential safeguard to curb rising health care costs. In 2024 and 2025, the State approved steep premium increases of 12 percent and 13 percent, respectively. Approved rates were comparatively lower for 2026, with an average of 7 percent. The approved rate of 6 percent for the 2027 plan year marks the lowest average approved rate since 2022.

HCFANY commends the Department for substantially decreasing this year’s rates, particularly in its decisions for CDPHP, Emblem (HIP), Anthem, IHBC, and MetroPlus. However, with the recent expiration of federal subsidies and influx of consumers to the individual market due to State’s transition back to the Basic Health Plan, New York should consider additional strategies to improve affordability.

To do so, the State can implement many proposals in HCFANY’s Policy Agenda that will help patients get affordable care and coverage, like the H.R. 1 Coverage Loss Mitigation Policy Package, the Primary Care Investment Act, and the Fair Pricing Act.

Many New Yorkers, who purchase their own health coverage through the New York State of Health marketplace, are eligible for subsidies. If you need help switching plans or finding affordable health insurance, the Navigators program offers free, unbiased guidance and can help you understand your premium assistance and coverage options. You can contact Navigators through the CSS Navigator Network at 888-614-5400 or email enroll@cssny.org.

Every year, health insurance carriers that participate in New York’s Marketplace, New York State of Health, submit requests to the Department of Financial Services (DFS) on what they would like to charge for health insurance premiums the following year. See below for template language and instructions for submitting a comment on the proposed 2027 premium increases.

Starting five days after the proposed rates are released, consumers have 30 days to submit comments. DFS considers consumer comments to determine the approved premium changes (typically increases) each insurer is allowed. This process, known as prior approval or rate review, is an opportunity for the State to keep premiums affordable for New Yorkers.

This year, New York’s individual market insurance carriers have asked the Department of Financial Services to allow them to increase premiums by an average of 21% in 2027. This increase would force New Yorkers to pay an average of $2,065 more annually, or $172 more monthly, in premiums. HCFANY hopes the State continues its trend of reducing carrier premium increase requests. For the past three years, the State has approved premium increases of 14% in 2024, 13% in 2025, and 7% in 2026.

Up until July 17th, consumers can make their voices heard by weighing in on the prior approval process.  

Depending on the carrier, premiums could increase by 1% to 52% in 2027, limiting New Yorkers’ ability to spend on other essentials like groceries, transportation, or housing. Below is a table showing the breakdown by carrier.

Make your voice heard: submit a public comment before July 17th, 2026, sharing how steep premium increases would affect your budget or loved ones. Below are the steps and an example script to submit a public comment online.

  • Go to https://myportal.dfs.ny.gov/web/prior-approval/submit-a-comment.
  • Select the following in the drop-down boxes. This information can be found on your insurance card or plan letter notice.
    • The type of plan you have
    • Insurance company
    • Whether you are on an Individual or group policy
  • Fill in your First Name, Last Name, and Contact Information (select one of three options: Email, Address, or Phone number)
  • Write a Comment (Use the example script below if you need help!)
    • Comments can be very short and direct. Every comment helps demonstrate that another member will be harmed if the Department approves the carrier’s current request.

“[insert your carrier’s name] is asking for a [insert from table] % premium increase, which means an annual premium increase of [insert from table]. I cannot afford this. Back-to-back increases in premiums are absurd.

I need health insurance to [insert a reason why you need health care, like affording your prescription drugs, needing to access preventative care, or certain medical services].

At this price, I will be forced to give up [insert reason, such as childcare, groceries, or housing] or forgo health coverage. I urge you to curb these increases and consider how this will impact my family and me.”

_________________________________________________________________________________________________________

Look out for HCFANY’s comments on each carrier’s rate application in the coming weeks.  

The New York Department of Financial Services (the Department) reduced the requested rates by insurance carriers for the individual market by 48 percent for 2026. Carriers initially requested a 13 percent average rate surge, but through New York’s prior approval process, the Department trimmed this figure down to an average of seven percent. Without this process, rates requested by insurance carriers would require New Yorkers to pay an average of $1,291 more annually, or $108 per month, in premiums next year. With the newly approved rates from the Department, the annual increase in premiums is now $678, or $57 per month, for next year.   

The table below compares health plans’ initial rate requests with rates that were ultimately approved, providing insight into how this process impacts your health care costs (you can also review our detailed comments on each carrier’s rate request here). 

The prior approval process serves as an essential safeguard to curb rising health care costs. For the past two years, the State has approved, on average, steep premium increases of 13% in 2025 and 12% in 2024. With a record number of public comments submitted by consumers, the State reduced the high premium increases requested by individual market insurance carriers. Despite these efforts, any rise in premiums for New Yorkers makes health care even less affordable for consumers, especially with current federal proposals that threaten New York’s health care system: 

New York should consider additional strategies to protect consumers from steep premium increases beyond the rate review process. HCFANY recommends the State to implement many proposals in HCFANY’s 2025 Policy Agenda that will help patients get affordable care and coverage, like the Primary Care Investment Act, Zero-copay Inhalers, the Fair Pricing Act, or setting up an independent Office of Health Care Affordability. 

Many New Yorkers, who purchase their own health coverage through the New York State of Health marketplace, are eligible for subsidies. If you need help switching plans or finding affordable health insurance, the Navigators program offers free, unbiased guidance and can help you understand your premium assistance and coverage options. You can contact Navigators through the CSS Navigator Network at 888-614-5400 or email enroll@cssny.org.  

New York’s individual market premiums might increase by up to 13 percent in 2026, forcing consumers to pay an extra $1,291 more annually. New York’s twelve individual market carriers are requesting increases ranging from one percent by Emblem to a staggering 38 percent by Independent Health. These requests far surpass requests from carriers in other states.

In our comments, HCFANY breaks down why DFS should curb each carrier’s specific rate requests to protect patients from another unaffordable increase in health care costs. Find your carrier in the list below: