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.