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Press Release - October 27, 2011: "Lawsky Announces Five More Health Insurers Agree to End Secrecy over Rate Increases"

The New York Department of Financial Services (formerly the Insurance Department) announced yesterday that a number of additional health plans have folded their hands in opposition to the Department's rate filing transparency initiative.

Following the lead of United Health, Aetna, EmblemHealth, which also does business in New York as GHI and HIP, Empire HealthChoice, which does business as Empire Blue Cross, Excellus and HealthNow formally withdrew their objections and agreed with the Superintendent that rate filings should be made public. As a result, six large health insurers-including the five largest-with 85 percent of the prior approval segment of the market covering 2.4 million New Yorkers have now taken a position in favor of full disclosure.
Read the full press release on the Department's website.

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