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 care and less on food, transportation and other necessities – right as New York faces yet another surge in COVID cases and the U.S. teeters on a possible recession. New York insurance carriers have not offered adequate justification to support their big requested price hikes.
In our comments, HCFANY breaks down why DFS should curb rate requests to protect patients from another unaffordable increase in health care costs. Find your carrier in the list below to see what we had to say.
The public comment period is still open! Tell the State how higher health care costs would impact you here.
You can also tell DFS Superintendent Adrienne Harris or Deputy Superintendent John Powell to lower rates by sharing the below on social media and tagging @NYDFS:
|New Yorkers pay enough for health care. Tell @NYDFS to stop premiums from getting even higher, especially during a pandemic + possible recession: on.ny.gov/3ag1yEn |
[Avg Premium Increase Graphic – Click to Download]
|On average, NY health premiums could increase by an eye-popping *19%* in 2023. Similar states are proposing increases of just 7%. |
Would you be paying more for one of these plans next year? Tell @NYDFS: on.ny.gov/3ag1yEn
[All Increases Graphic – Click to Download]