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.
Here’s something you don’t see every day: a report about Medicaid in which New York’s costs are substantially lower than the national average.
Federal officials have reportedly confirmed that they are cutting off a major portion of funding for New York’s Essential Plan, opening a roughly $1 billion hole in the state budget and raising new doubts about the future of a rapidly growing health insurance option for the working poor.
This month’s setbacks for New York’s healthcare system were largely driven by flaws in the ACA, not by attacks on the law from President Trump or Republicans in Congress.
The scheduled return of an Obamacare tax on insurance premiums in 2018 would cost New Yorkers $1.1 billion in the first year, according to an industry-sponsored report published this week.
If President Trump follows through on a threat to halt Obamacare’s “cost-sharing reduction” program, New York has more to lose than almost any other state.
Insurance tax credits in the U.S. Senate GOP’s health plan would have a mixed effect on New Yorkers, reducing net premiums for some young, low-income consumers shopping in the non-group market, but raising costs for older ones.
New York would pay a price for running a high-cost Medicaid program if the Senate GOP health plan becomes law.