As you may know New York State's "Prior Approval Law" mandates that all insurance carriers notify their customers of their intent to request rate increases to the Department of Financial Services (DFS)at the same time they file those requests to the state. Many carriers file their rate increase requests in late May and early June for rates effective in January of the following year. You may have received a notice recently from your health insurance carriers.
Developments in Health Insurance Coverage & Rates:
What does this mean for nonprofits?
What Can We Do?
Tell DFS how these changes will affect your organization. Health insurance customers are invited to share their thoughts and comments with DFS on the proposed changes and rate increases during a 30 day comment period that begins on the date the carrier sends the Prior Approval letter to their customers.
We encourage all NYCON members who receive these letters to share their thoughts and opinions on the proposed changes and rate increases with DFS.
Submit Your Comments Online or via mail:
NYS Department of Financial Services
Health Bureau - Premium Rate Adjustments
1 State Street
New York, NY 10004
Questions about Health Insurance for your nonprofit?
Please contact NYCON's insurance subsidiary, Council Services Plus, for assistance.
Main Office: 272 Broadway, Albany NY, 12204 | Regional Offices: NYC, Oneonta, Poughkeepsie, Rochester | p. (800) 515-5012 • f. (844) 802-2204 • e. email@example.com