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Summary of Requested 2018 Rate Actions
NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES
SUMMARY OF REQUESTED 2018 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 ยงยง 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.