Open your wallets! New York health insurance rates to rise in 2015
ALBANY— New York insurance regulators have approved higher health insurance rates for 2015, though the increases are smaller than what the industry wanted.
The increases also apply to health insurance offered through the state’s new health benefits exchange, according to the state’s Department of Financial Services, which released the approved rate increases on Thursday.
For the individual market, the agency approved an average increase of 5.7 percent. A 6.7 percent average increase was granted for the small group market.