Tag: Department of Financial Services

In approving the $69 billion merger of CVS and Aetna, the state Department of Financial Services attached a noteworthy condition: The two companies must forward $40 million to the state of New York. It was the second time this year that the Cuomo administration has leveraged its regulatory authority over a health insurance company to extract a large sum of cash. Read More

As the state prepares to collect $2 billion in proceeds from the sale of Fidelis Care, the Cuomo administration has quietly revised its statement on how it will use the money, shifting to an emphasis on service for the needy rather than support for providers. Read More

The double-digit premium hikes looming for non-group health insurance consumers in New York appear to be driven more by state and federal government policy than by the underlying cost of medical care. Read More

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