The balance of unspent money in the Essential Plan Trust Fund ballooned to a new high of $1.2 billion as of March 31, records from the comptroller's office show. The surplus more than tripled since the same time last year – even as the Trump administration disrupted federal aid for the program, which provides health coverage to low-income New Yorkers, and the Cuomo administration diverted $635 million in Essential Plan funds to subsidize struggling hospitals.
Obamacare enrollment is rising in New York – an exception to the national trend – but not by as much as state officials are implying.
If the entire Affordable Care Act were struck down as unconstitutional – as a federal judge ruled on Friday – the consequences for New York's health-care system, and the state budget, would be significant. Assuming the decision is upheld on appeal (which many experts doubt), and assuming Congress does not intervene, the state would lose almost $8 billion in federal aid that subsidizes coverage for more than 4 million residents.
Claims about an "age tax" in the House GOP's health care overhaul are particularly misleading in the context of New York's insurance market.
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.