Insurance companies and HMOs requested average increases of 12.7 percent. Benjamin Lawsky, head of the DFS, said the department aimed to keep hikes as low as possible while keeping health insurers in the New York market. Individuals and groups also have the ability to view the increases online, according to the report.
Previously, premiums were rising roughly 14 percent per year in New York, and the lower rate hike could lead to two-year savings of more than $500 million.
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