2018 Proposed NY Health Insurance Small Group Rates – NY Department of Financial Services has released the requested health insurance rate increases for both small groups and individuals for plans renewing in 2018.
While these are not approved rates but just requests, it gives you a sense of where the carrier rates will be going in 2018.
2018 will see modest rate increases in the small group health insurance market. These increases, while large compared to cost of living increases, remain in line with past average increases over the past 10-15 years. The good news is that there are now more health carriers in NY than in years past, so options for employers and employees are high.
SMALL GROUP MARKET
|Company Name||2018 Requested Rate Action|
|Empire Healthchoice Assurance||12.9%|
|Healthfirst Health Plan, Inc.||10.0%|
|Oxford Health Insurance Inc.||11.4%|