Tag: Department of Financial Services

As the Hochul administration presses for the creation of a "guaranty fund" to bail out failed health insurers, the state is quietly moving to seize a small company that could be the fund's first target. Read More

In what has become a rite of summer, the state Department of Financial Services on Wednesday approved substantially higher health insurance premiums for 2023 Read More

The health insurance industry's rate applications for 2021, posted this month by state officials, reveal deep uncertainty about the long-term impact of the coronavirus pandemic on medical costs. Read More

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 state’s employer-sponsored health insurance premiums spiked by more than 10 percent in 2017, leaving New Yorkers with the some of the highest coverage costs in the contiguous United States. Read More

Health insurers’ rate applications for 2019, which became public late Friday, raise red flags about the condition of New York’s non-group market. Read More

This month’s setbacks for New York’s healthcare system were largely driven by flaws in the ACA, not by attacks on the law from President Trump or Republicans in Congress. Read More