New York state health insurers requested an average 16.6 percent increase on premiums for 2018 ACA exchange plans, according to Bloomberg.
This requested increase is down slightly from the average 18 percent premium hike requested last year. For 2018, the requests ranged from 4.4 percent to 47.3 percent. One insurer — New Hyde Park, N.Y.-based Northwell Health's plan CareConnect — filed a 29.7 percent premium increase request for individual plans as "part of a continuing correction and … an unavoidable response to this population's unexpectedly large and continuing need for medical care."
While the state didn't specify insurers' reasoning for the proposed increases, other payers and health insurance regulators nationwide have pointed to uncertainty surrounding the future of the ACA and whether its cost-sharing reductions to payers will continue as reasons for their proposed rate increases.