Need to Know
June 4, 2018 1:06 PM
New York, Washington state propose double digit rate hikes for ObamaCare plans
Posted by Staff

ObamaCare insurers in New York and Washington state are proposing double digit rate hikes for 2019, citing recent and upcoming changes to the law.

In New York, 14 insurers are asking state regulators to approve an average rate hike of 24 percent, while 11 insurers in Washington state want to increase premiums by an average of 19.08 percent.

New York attributed the proposed increases to Congress's repeal of the individual mandate, while Washington state blamed uncertainty over the Trump administration's looming changes to ObamaCare.

"With respect to the individual market, the single biggest justification offered by insurers for the requested increases is the Trump Administration’s repeal of the individual mandate penalty," New York's Department of Financial Services said in a statement.

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