New York State
Insurance Department


NEW YORK INSURANCE DEPARTMENT TO HOLD
PUBLIC HEARING ON MANAGED HEALTH PROPOSED RATE INCREASE

New York, December 29, 1998

The New York State Insurance Department has scheduled a public hearing January 8th to consider an application for subscriber rate change by Managed Health, Inc. The company’s headquarters is located 25 Broadway, New York, NY.

The hearing will be held on January 8th at 2:00 p.m. at the Medical Society of the State of New York, 420 Lakeville Road, Lake Success, NY.

COMMUNITY-RATED CONTRACTS AND RIDERS AFFECTED:
Individual HMO and Point of Service and Small Group (New Options)

WEIGHTED AVERAGE PERCENTAGE CHANGE REQUESTED: 55.2%

MEMBERSHIP AFFECTED: 2,400

COUNTIES AFFECTED: Queens, Nassau and Suffolk.

PROPOSED EFFECTIVE DATE: February 1, 1999

Health Maintenance Organizations (HMOs) can not raise or lower subscriber rates more than 10% without the prior approval of the Insurance Department.

A summary of facts supporting the company’s application may be obtained from the company’s office at 25 Broadway, New York, NY 10004 or from the Insurance Department. The complete subscriber rate increase application may be examined at the company’s office or at the offices of the Insurance Department:

New York City Office
Health Bureau
25 Beaver Street, 2nd Floor
New York, NY 10004
(By Appointment Only)
212-480-5215
Albany Office
Agency Building One
Empire State Plaza
Albany, NY 12257
(By Appointment Only)
518-474-4567

Those wishing to speak at the hearing should notify Karen Eldred at (212) 480-5262 at the Insurance Department’s New York City Office.

Those unable to attend the hearing may submit written statements for inclusion in the official record within ten days of the hearing date to the Public Affairs & Research Bureau at the Insurance Department’s New York City Office. In accordance with the Americans with Disabilities Act, the Department will provide a reasonable accommodation, such as a sign language interpreter, a qualified reader, etc., at no charge to any covered individual wishing to attend or testify at the hearing when such a request is made at least seven days before the hearing.

 


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