Health insurance rates for individuals in New York will increase next year by a weighted average of 14.5 percent and 9.3 percent for small group plans, the Cuomo administration announced.
The health insurance rates announced by the Department of Financial Services earlier this week are lower than the 16.6 percent hike the department approved last year, which were the highest since the Affordable Care Act went into effect in 2014. Insurers in June had requested a 16.6 percent weighted average increase for individuals and 11.5 percent weighted average increase for small group plans.
