NY Health Care for All | Coverage & Access
- New Yorkers who purchase health insurance on the individual market should prepare for rising costs.
- The prior approval process serves as a crucial consumer protection.
- Despite the projected increase in health insurance premiums, many New Yorkers are eligible for subsidies.
New York health insurance premiums are set to increase by an average of 13% in 2025, impacting individuals who purchase insurance on the stateS market. While carriers initially requested a 17% hike, the New York department of Financial Services intervened. The expiration of American Rescue Plan tax credits in 2025 further complicates affordability. Subsidies and assistance programs are available to help eligible New Yorkers manage costs. Explore your options and learn about available subsidies by visiting the NY State of Health enrollment site or contacting the CSS Navigator network. Stay informed with News Directory 3 for critical updates on healthcare. Discover what’s next as New York considers measures to lessen the impact of thes rising costs.
New York Health Insurance Premiums Projected to Increase in 2025
New Yorkers who purchase health insurance on the individual market should prepare for rising costs. Individual market rates are expected to jump an average of 13 percent in 2025. While insurance carriers initially sought a 17 percent increase, the New York Department of Financial Services reduced the figure through the state’s prior approval process.
The prior approval process serves as a crucial consumer protection. Expanded advanced premium tax credits, enacted during the COVID-19 pandemic via the American Rescue Plan, have boosted health insurance affordability. though, these tax credits are set to expire in 2025, compounding the impact of premium increases. New york may explore additional strategies to shield consumers from these rising costs, following the led of states like Connecticut and New Jersey, which have established cost containment task forces.
Despite the projected increase in health insurance premiums, many New Yorkers are eligible for subsidies. Those seeking to explore options and learn about available subsidies can visit the NY State of Health enrollment site. The Navigators program offers free, unbiased guidance on switching plans and understanding premium assistance. Contact Navigators through the CSS Navigator network at 888-614-5400 or enroll@cssny.org. Assistance is also available online or by calling 855-355-5777.
What’s next
New York officials may consider implementing further measures to mitigate the impact of rising health insurance costs on consumers,such as establishing a health care cost containment task force.