BUFFALO, N.Y. — Citing ongoing health care cost increases and regulatory fees and taxes, Western New York health plans have requested rate increases for 2024 as high as 39% for individuals and 22% for small groups.
Health insurers across the state were required to file their requested rates for 2024 with the State Department of Financial Services, which regulates and issues final approvals before any rate changes go into effect. Those final approvals generally come late summer, giving commercial groups and individuals time to shop around for new plans for the next calendar year.
