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What type of insurance coverage do you need?

The NY Department of Financial Services has released their approved rates for small group and individual health insurance plans. Please see the tables below and feel free to contact us with any questions.

 

Small Group Market More than one million New Yorkers are enrolled in small group plans, which cover employers with 1-100 employees. Insurers requested an average rate increase of 7.5% in the small group market. DFS cut the weighted average requested rate increases by 50%, from 7.5% to 3.8% for 2019.

Company Name

2019 Requested Rates

DFS Final Approved 2019 Rates

DFS Modification as a Percent of Total Requested

Market
Share

Aetna Life

16.2%

7.9%

-51.6%

4.1%

CDPHP

6.7%

0.0%

-100.0%

0.4%

Emblem

12.0%

9.8%

-18.3%

1.5%

Empire Healthchoice Assurance

6.0%

5.0%

-17.0%

1.7%

EmpireHealthchoice HMO

5.2%

9.2%

75.2%

0.2%

Healthfirst Health Plan, Inc.

21.0%

16.0%

-23.6%

0.0%

Healthfirst Insurance Company, Inc.

7.0%

6.4%

-9.1%

0.6%

MVP Health Plan

7.0%

6.6%

-6.1%

0.2%

Oscar

3.0%

2.0%

-34.5%

0.8%

Oxford Health Insurance Inc*

8.3%

3.0%

-64.0%

53.6%

UnitedHealthcare Ins Company of New York

7.2%

-1.0%

-113.3%

0.1%

Weighted Average

7.5%

3.8%

-50.0%

100.0%


INDIVIDUAL MARKET

Company Name

2019 Requested Rates

DFS Final Approved 2019 Rates

DFS Modification as a Percent of Total Requested

Market
Share

CDPHP*

5.1%

-1.9%

-137.0%

1.7%

Crystal Run Health Plan, LLC

15.7%

10.1%

-35.8%

0.0%

Emblem*

31.5%

17.0%

-46.1%

8.4%

Empire Healthchoice Assurance*

24.0%

0.0%

-100.0%

7.9%

Excellus*

8.9%

4.6%

-48.6%

8.2%

Fidelis (New York Quality Healthcare Corp)*

38.6%

13.7%

-64.5%

30.4%

Healthfirst Insurance Company, Inc.

15.0%

8.8%

-41.3%

0.1%

Healthfirst PHSP, Inc.*

15.0%

9.5%

-36.7%

8.8%

Healthnow New York*

-3.2%

-3.2%

0.0%

2.2%

IHBC*

21.3%

0.6%

-97.3%

1.5%

MetroPlus*

13.5%

13.5%

0.0%

4.3%

MVP Health Plan*

6.5%

1.9%

-71.3%

9.0%

Oscar*

25.2%

11.0%

-56.3%

15.4%

UnitedHealthcare of New York Inc*

23.6%

1.5%

-93.5%

2.1%

Weighted Average

24.0%

8.6%

-64.0%

100.0%

* Indicates the company offers products on the New York State of Health Marketplace.

Posted 7:00 PM

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