Nassau County 2017 Health Insurance Premiums Increasing 7.3%, says Comptroller Maragos

MINEOLA, NY (TIP): George Maragos, Comptroller of Nassau County said, November 17 that Health insurance rates paid by Nassau County for its employees and retirees enrolled in the New York State Health Insurance Program (NYSHIP) will increase by a weighted average of 7.3% in 2017.

The average increase of 7.3% is mainly due to increases in the individual rate of 11.2% and family rate of 12.2% for active employees, offset by a reduction in rates for retired employees enrolled in Medicare.

These rates exceed the 10-year average rate increases of 5.3% and 6.0% for individual and family coverage respectively.

In total, the County budgeted $283 million in 2016 for employee and retiree Health Insurance coverage. In 2017, the Comptroller’s Office projects that under the proposed rate increases, the Health Insurance spending will increase to about $303 million.

“Health Care for Nassau County employees and retirees represents approximately 16.3% of the total 2016 budgeted salaries and wages for all active employees,” said Maragos.

“The rate increases continue to outpace inflation and wage increases. Alternatives should be considered in controlling this expense without compromising the quality of care.”