(Crain’s) — The New York state Department of Insurance granted rate hikes for health insurance premiums Thursday under a new state law. Rates for about two-thirds of New Yorkers will rise less than 10%, effective January 2011. Twenty companies requested new rates under the first round of government approvals. Insurance regulators approved a 12.5% rate hike for Oxford Health Plans’ small group HMO products, compared to the 22% the insurer requested. Oxford’s point-of-service plan for small groups was knocked down to a 10% hike from the 15% requested.
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