The latest too-good-to-be-true argument for single-payer comes from Albany City Treasurer Darius Shahinfar, who claims that a government-funded statewide health plan would dramatically reduce property taxes. In reality, the savings for local taxpayers, if any, would likely be a fraction of what Shahinfar estimates. And they would come at the cost of the largest increase in state taxes that New York has ever seen, not to mention wholesale disruption of the entire health-care system.
Some nonpartisan advice for Albany's Class of 2018 on how it can avoid getting sucked into the swamp—and maybe leave state government in better shape than they found it.
New York's unfunded liability for state government retiree health coverage has reached $90.5 billion—an increase of $3 billion over last year's estimate, and nearly $13 billion in just two years, according to the just-released First Quarterly Update to the state's FY 2019 Financial Plan.
The liability for other post-employment benefits, or OPEB, reflects the net present value of continuing state health insurance coverage available to all employees who retire directly from a state government payroll after at least 10 years of service.
Governor Cuomo’s proposal to expropriate “excess” reserves from Medicaid managed care plans would apparently target just two insurers—Fidelis Care and MetroPlus—even though their reserve levels are not unusually high.
Fidelis Care, a Catholic Church-affiliated health plan, is the target of a second revenue-raising proposal from Governor Cuomo.
As Albany lawmakers consider imposing costly new taxes and mandates on health insurance, a report from the New York State Health Foundation offers a timely reminder: The state’s insurance premiums are already among the highest in the country, and rising fast.
Due to recent changes in the federal tax code, the already exorbitant cost of single-payer for New York taxpayers has gotten even steeper.
Reforms that would reduce the state’s cost burdens and improve its climate for growth.