From gas prices to grocery bills, consumers are paying more for just about everything these days. But imagine the shock and outrage when shoppers recently learned their health insurance premiums could be going up as much as 30 percent.
In New York state, the Department of Financial Services (DFS) requires health plans to submit their premium rate requests to the state in a process called prior approval. The state receives those requests, then decides whether to approve, deny, or modify the rates.…
