NYHPA on 2017 Rate Decisions

/, Press Releases/NYHPA on 2017 Rate Decisions

NYHPA on 2017 Rate Decisions

NEW YORK HEALTH PLAN ASSOCIATION ON 2017 RATE DECISIONS

Statement of Paul Macielak, HPA President & CEO

“The premium rate approvals announced today by the Department of Financial Services acknowledge the rising health care costs confronting plans and prior years’ plan losses that were compounded by two years of overall rate reductions.

“The rates also reflect a number of unexpected dynamics that made the 2017 pricing decisions more difficult. These included the impact of the federal Risk Adjustment program, which was not known at the time plans had to file their rates and which affected some plans more significantly that others, as well as new mandated benefits enacted this year that were also not part of the initial premium calculations.

“We believe this year’s process, which provided an opportunity for plans and DFS staff to have constructive discussions about the impact of these factors, was an improvement on previous years.

“We look forward to working with DFS to ensure the rate setting process continues to offer greater transparency. We also hope to have further dialogue around the Risk Adjustment program to address existing flaws that directly impact the stability and the future of health care reform.”

2017-03-07T11:44:25+00:00 August 5th, 2016|All News, Press Releases|