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.
The U.S. Senate GOP’s health bill, though pitched as more moderate than the House plan, would be harder on New York in at least one respect.
The double-digit premium hikes looming for non-group health insurance consumers in New York appear to be driven more by state and federal government policy than by the underlying cost of medical care.
As health plans across the state announce their requested premium increases for 2018, the Cuomo administration’s policy decisions are taking more blame than the turmoil in Washington.
Thanks to New York’s unusual insurance laws, the impact of the House GOP health plan on the state’s non-group insurance market would be dramatically different than than virtually anywhere else.