Federal health insurance changes may have played a significant role in increasing health insurance costs in New York state, according to a chart compiled by state regulators.
Five of the 6 plans that most recently went through the New rate prior approval process told regulators how much they think the Affordable Care Act – federal legislative package that includes the Patient Protection and Affordable Care Act (PPACA – affected their premium requirements.
The rate review results chart gives rate increase information for those 6 plans and 7 others.
The parents of all 13 plans asked for rate increases averaging 19.1%, and New York regulators approved increases averaging 12.8%.
Carriers could also ask for an extra increase to help compensate for the effects of PPACA and other new federal health laws.
At the5 companies that asked for a “federal health reform impact” adjustment, the requested adjustments ranged from