The state's Essential Plan has amassed a nine-figure surplus due to unexpectedly generous federal funding, records from the Office of the State Comptroller show.
The Trump administration’s move this week to suspend the Affordable Care Act’s “risk adjustment” program leaves more than $300 million in payments to and from New York’s health plans in limbo and further destabilizes the state’s ACA market.
Health insurers’ rate applications for 2019, which became public late Friday, raise red flags about the condition of New York’s non-group market.
Health coverage gains under the Affordable Care Act were concentrated where they were needed most—among lower-income groups and in the five boroughs of New York City—recently released Census Bureau data show.
Here’s another health care cut that Albany can stop worrying about: Despite losing $1 billion in federal funding, the state’s Essential Plan is actually expected to run a hefty surplus—which the Cuomo administration is using to plug budget holes.
The past year has been a roller-coaster for New York’s health-care system, as Congress tried repeatedly to scale back Medicaid and dismantle the Affordable Care Act while allowing other health-related programs to lapse. Because New York depends so heavily on federal health dollars, it had more to lose than almost any other state.
Sign-ups for both government-sponsored and private health coverage through the New York State of Health insurance exchange surged during this year’s open-enrollment period, a sign of continued consumer demand in the face of political turmoil and rising premiums.
New York’s Obamacare program reached a new high, with more than 4.3 million people signing up for healthcare coverage, state officials announced Thursday. The 2018 totals marked an increase of about 700,000 people from a year ago, officials said.