New Yorkers will need more than just luck if the insurance industry gets its way. This year’s Executive Budget seeks to restore power to the State Insurance Department to regulate insurance premium rate increases before they go into effect – a system called “prior approval.” This issue has spurred fierce protest from the insurance industy, which has enjoyed huge profits over years of unregulated rate hikes.
But, New Yorker’s shouldn’t have to pay a pot-o-gold to keep their health insurance! Restoring prior approval will help make insurance affordable again and make sure that money paid to insurance companies is used for health care – not profits.
Today in Albany, HCFANY has joined with small business groups, providers, seniors, health consumers and the State Superintendent of Insurance to to urge State Lawmakers to pass prior approval and make our health insurance idustry healthy again.
For more information on prior approval and why its good for New Yorkers and good for the insurance industry, check out the following:
- To view a copy of our press release on the event, click here.
- To view a copy of HCFANY’s letter of support on prior approval, signed by over 30 diverse groups around the state, click here.
- To view a copy of a HCFANY policy brief on the issue of prior approval, click here.
- To view a copy of a HCFANY policy brief on public support for prior approval, click here.