by Laura Nahmias and Dan Goldberg
July 2, 2014
New York insurance companies are looking to raise health insurance premiums by an average of 13 percent, according to proposed rates released by the state's Department of Financial Services on Wednesday.
The requests come from the 41 insurance companies operating in New York's insurance market. Last year, 16 insurers offered plans on the state's health exchange, which was created by the Affordable Care Act.
Five of the six most popular plans on the state’s exchange requested double-digit increases in their premium rates for next year, with an average request of a 15.5 percent rate hike.
(Excerpted. MUCH more at link.)