Health Insurance Premiums Surge In New York

| Spectrum

Morgan Mckay

New York’s health insurance premium costs are surging at a rate higher than almost every other state in the nation.

In 2018, the state was found to have the second-highest average for single-coverage premiums, with a rate increase of 6 percent. This puts the state around a $1,000 higher than the national average.

Data released by the Agency for Healthcare Research and Quality looked at health insurance premiums for employer-based plans to see how the state’s average was trending.

New York was found to have the 10th largest rate increase in annual health insurance premiums at 25.75 percent over a six-year period.

The state’s employee personal health premium costs have increased by 22.23 percent since 2013 and employer contributions to health costs have increased by 26.68 percent.

Groups like the Empire Center for Public Policy, a right-leaning fiscal watchdog, say that rising premium costs are linked to multiple issues, including the high cost of living, the number of unionized healthcare workers, and “heavy state taxes levied directly on health insurance.”

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