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New York health insurers seek whopping increase for 2019

The state’s 14 private health insurers are requesting on average a 24 percent increase in rates for individuals next year, citing growing costs and a major looming change to federal health care.

The insurers on Monday released their proposed rate increases for individuals and small group plans for 2019.

They said they need the substantial increases in part because the individual mandate under the federal Affordable Care Act is being repealed.

“The proposed premium rate requests are reasonable, reflecting the cost of care and taking into account a number of factors contributing to rising health care costs,” said Eric Linzer, president of the state Health Plan Association, which represents insurers.

The state Department of Financial Services will now receive each company’s proposal and then decide what the increases will be.
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