New York’s health insurers will request double digit rate increases for Obamacare policies for 2018 while debate rages in Washington to overhaul the law, analysts told The Post.
The insurers officially submit their rate plans to state regulators on Monday.
Last year, the state Department of Financial Services approved an average 16.6 percent hike for individual policies and an average 8.3 percent for small group policies on the state’s Obamacare exchange — the highest in four years.
Insurers sought higher increases last year, but regulators trimmed the requests following a financial review.
The uncertainty over Republican efforts to overhaul or replace the Affordable Care Act may spur insurers to seek even higher hikes in medical premiums, said Bill Hammond, health policy director at the Empire Center for Public Policy.
“New York health plans have requested double-digit rate hikes in each of the past three years, and it’s a safe bet they will do so again,” Hammond said.
“The driving forces would include an underlying increase in health-care costs, the Trump administration’s repeated threats to withhold $8 billion in promised subsidies, and uncertainty about Obamacare’s future, given the attempts to repeal and replace it with something very different,” Hammond said.