BUFFALO, N.Y. — The State Department of Finance has issued approvals on health insurance rates for 2020 for New York health plans, with most local plans getting close to the amounts they requested.
Health plans serving the eight-county Western New York region asked for rate increases ranging from 3.3 percent to 10 percent for individuals; and 1.1 percent to 6.8 percent hikes for small groups.
For individuals, rates were approved as requested for Univera Healthcare and its parent Excellus Healthcare. Those that saw rate requests reduced for individual plans include HealthNow New York, the parent of BlueCross BlueShield of WNY, which saw its requested rate increase reduced to 8.6 percent from 10 percent; and Independent Health, which was approved for a 1.7 percent increase, down from the 3.3 percent it requested. Fidelis saw its rate request reduced as well: It asked to bump prices by 6.8 percent but was approved for a 3.9 percent increase. You can read the full story on Buffalo Business First's website.