New York health insurers have proposed premium increases averaging 17.3 percent for next year in the market for individuals and 12 percent for small groups.
The amounts posted Wednesday by the The Department of Financial Services are averages for an insurer’s various plans, including those offered on the New York Health Exchange.
In the individual market, they range from 6.1 percent by MVP Health Plan and HealthNow New York to 89.1 percent by Crystal Run Health Plan. The small group proposals range from 5 percent for Healthfirst Health Plan to 61.9 percent for Crystal Run.
The New York Health Plan Association said Wednesday the higher premiums are necessary for the financial stability of New York’s market.