More Obamacare Failures: New York Premium Rates Set to Skyrocket
Congressman Chris Collins (NY-27) today released the following statement after reports surfaced that health insurers operating in New York’s Obamacare exchanges requested premium rate increases by as much as 89%.
“These requested premium increases come on the heels of the total failure of the New York-based, Obamacare-created CO-OP Health Republic, which has already cost taxpayers more than $265 million at the end of 2015,” said Congressman Collins. “The failure of Health Republic forced thousands of beneficiaries onto more expensive plans and, based on the insurer requests, these beneficiaries will see substantial rate increases next year.
“Now Obamacare’s runaway premium costs are devastating families, businesses, and individuals in Western New York. President Obama’s health plan needs to be left behind with the rest of his failed presidency.”
The report detailing the insurer requested rate hikes can be read here. Health insurers in New York requested increased rates hikes of 17.3% on average.