NY insurers want double-digit hikes for ObamaCare policies
From NY Post: New York health insurers requested double-digit increases as high as 47 percent for ObamaCare policies next year as the debate rages in Washington on how to overhaul the law.
The average proposed increase for individual policies for 2018 is 16.6 percent, the state Department of Financial Services said in a report released late Wednesday.
But some consumers would get whacked with much higher increases, if approved by Albany.
HealthNow New York is seeking a 47 percent boost in premiums, United Healthcare of New York a 38 percent hike, and Care Connect wants 30 percent more. Emblem Health/HIP has filed for a 25 percent hike and Healthfirst PHSOP 22 percent.
MetroPlus, the health insurer run by New York City’s municipal health system, Health+Hospitals, has proposed a more modest 7.9 percent increase.
“MetroPlus has made every effort to keep its rates affordable for 2018. We believe that affordable rates combined with a strong network of high quality providers and caring service make MetroPlus a clear choice for New Yorkers,” the company said in a statement.
For the small group market, insurers requested an average increase of 11.5 percent.
Last year, insurers sought an average 19.3 percent increase and the state approved 16.6 percent. DFS will decide the 2018 rates following a 30-day public comment period.