SUMMARY OF REQUESTED 2018 RATE ACTIONS*

June 13, 2017

 SUMMARY OF REQUESTED 2018 RATE ACTIONS*

https://myportal.dfs.ny.gov/web/prior-approval/summary-of-2018-requested-rate-actions

This chart sets forth the average premium rate adjustments that health insurers have requested from the New York State Department of Financial Services (DFS). There are 16 insurers that have submitted individual rates and 20 insurers that have submitted small group rates for 2018. These are the rates insurers have requested and are not the final premium rates DFS will approve. Under the Insurance Law, the Superintendent may deny or modify the requested rates if she finds that the insurer’s request is unreasonable, excessive, discriminatory or inadequate based on sound actuarial assumptions and methods (Insurance Law §§ 3231(e)(1), 4308(c)). From the date DFS posts insurer rate applications on the DFS website, the public will have 30 days to submit comments to DFS on the proposed rates. The total percentage requested rate increase for individual and for small group on the chart below represent a weighted average that accounts for the relative share of overall enrollment for each insurer.

INDIVIDUAL MARKET

Company Name 2018 Requested Rate Action
Affinity 23.5%
Care Connect 29.7%
CDPHP 15.2%
Crystal Run Health Plan, LLC 8.7%
Emblem (HIP) 24.9%
Empire ** N/A
Excellus 4.4%
Fidelis 8.5%
Healthfirst Insurance Company, Inc. 13.0%
Healthfirst PHSP, Inc. 22.1%
HealthNow New York 47.3%
IHBC 25.9%
MetroPlus 7.9%
MVP Health Plan 13.5%
Oscar 11.1%
UnitedHealthcare of New York Inc 38.5%
Total Weighted Average 16.6%

 

SMALL GROUP MARKET

Company Name 2018 Requested Rate Action
Aetna Life 14.2%
Care Connect 19.3%
CDPHP 21.1%
CDPHP UBI 8.6%
Crystal Run Health Insurance Company 0.0%
Crystal Run Health Plan, LLC 3.9%
Emblem (HIP) 8.5%
Empire Healthchoice Assurance 12.9%
Empire Healthchoice HMO 13.8%
Excellus 8.0%
Healthfirst Health Plan, Inc. 10.0%
Healthfirst Insurance Company, Inc. 10.0%
HealthNow New York 8.9%
IHBC 14.5%
MetroPlus 5.1%
MVP Health Plan 8.5%
MVP Health Services Corp 11.7%
Oscar -3.2%
Oxford Health Insurance Inc 11.4%
UnitedHealthcare Ins Company of New York 15.2%
Total Weighted Average 11.5%

 

*These averages may change based on DFS’s review of the rate applications.

** Empire submitted a filing that DFS is evaluating.

 

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