News

As many of you are aware, New York State health insurers are required to file their requested premium rate increases each year with the New York State Department of Financial Services (DFS). DFS will now review these requests and determine what rate increases, if any, will ultimately be approved for 2027.

The recently released filings show that insurers are requesting an average rate increase of 25.7% in the small group market, which covers employers with up to 100 employees. These are only requested increases and have not yet been approved by DFS. Historically, DFS has reduced many carrier requests during the review process. For example, for 2026, insurers requested an average increase of 24.0% in the small group market, and DFS ultimately approved an average increase of 13.0%, saving small businesses more than $800 million statewide.

Some of the requested 2027 small group increases include:

• UnitedHealthcare Insurance Company of New York – 42.1%
• Oxford Health Insurance – 34.5%
• Anthem (Empire) – 20.4%
• MVP Health Plan – 19.6%
• Excellus – 17.0%
• CDPHP – 14.1%
• Independent Health – 11.4%
• Highmark – 9.2%

You can view the complete list of requested rate actions on the DFS website:

2027 Requested Rate Actions Summary

Public Comment Period

DFS allows consumers, employers, and other interested parties to submit comments regarding the proposed rate increases before final decisions are made. Comments become part of the public record and are reviewed as part of the rate approval process. Information regarding consumer comments and carrier filings can be found on the DFS Prior Approval website.

To submit comments or learn more about the rate review process, visit:

DFS Prior Approval Portal

You may also contact the New York State Department of Financial Services directly:

New York State Department of Financial Services

DFS is expected to complete its review and announce the final approved rates later this summer. The approved increases may be lower than those currently being requested.

If you have questions regarding your current health insurance program, upcoming renewals, or alternative coverage options, please reach out to your licensed producer at Council Services Plus, or contact us at info@councilservicesplus.com or (518) 434-9194.