Health insurance companies planning sharp increases in premiums for their New York customers have submitted memos justifying their rate increases to state officials. However, they are fighting to keep those memos from the public, saying they contain trade secrets and that consumers wouldn’t be able to understand them. Benjamin Lawsky, the state superintendent of financial services, has ordered the documents be made public. If the companies fail to obtain a court injunction the documents will be public by late November, making New York the 13th state to post insurers justifications for rate hikes online.
Health Insurers Fight To Hide Rate Increases From The Public