The health insurance industry is looking to raise premiums for individual plans sold on the New York health insurance exchange by an average of 17% next year. HealthNow New York wants to increase rates by almost 50%!
Meanwhile, CEO salaries continue to go up. In 2016:
- Excellus CEO Christopher Booth received $2.09 million
- HealthNow New York CEO David Anderson received $2.03 million
The rising costs of insurance demonstrate how the current healthcare system is designed to benefit a select few who continue to profit from our need for healthcare.
On the right, are the requested rate increases for individual plans. You can see a summary of the rate requests on the New York State website.
Have you been notified of a rate increase? Are you with one of the insurers requesting a rate increase? Share your story below.
State regulators can deny or modify the requests if they determine the proposals are excessive or unreasonable. A decision on the rate requests is expected in early August.
Healthcare is a human right! Our health should not be the source of wealth for a handful of greedy insurance executives. Please share below how these rate hikes will impact you.