The Community Service Society of New York
09/04/2026 | Press release | Distributed by Public on 09/04/2026 12:34
Press Release: State Cuts to Insurance Premiums Rates Will Save New York Consumers $324 Million
September 4th, 2026
Press Release
State Cuts to Insurance Premiums Rates Will Save New York Consumers $324 Million
Small businesses also stand to save $1.25 billion in health insurance costs
The Community Service Society of New York (CSS) commends Governor Kathy Hochul and Department of Financial Services Superintendent Kaitlin Asrow for their leadership in making health insurance more affordable for New Yorkers.
Today, the Department of Financial Services announced the 2027 approved premium increases of 6 percent in the individual market and 8 percent in the small group market. These approved premium increases cut insurers' requests by 70 percent in the individual market and 66 percent in the small group market, saving consumers $324 million and $1.25 billion, respectively. See the announcement here. The approved rates respond to many of the concerns outlined by Health Care For All New York (HCFANY). See HCFANY comments on the 2027 rate requests here.
CSS also applauds members of the legislature for their leadership advocating for reduced premium increases and elevating consumers' concerns. See the letter authored by Senator Gustavo Rivera and Assembly Member Jessica González-Rojas here.
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The Community Service Society of New York (CSS) has worked with and for New Yorkers since 1843 to promote economic opportunity and champion an equitable city and state. We power change through a strategic combination of research, services, and advocacy to make New York more livable for people facing economic insecurity. By expanding access to health care, affordable housing, employment opportunities, debt assistance, and more, we make a tangible difference in the lives of millions. Join us at www.cssny.org.
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