Tag: Healthcare

At the midway point of the fiscal year, New York's Medicaid health plan has already spent 61 percent of its state-funded budget, according to the latest cash report from the comptroller's office – putting the program on track to end the year with a $2.9 billion shortfall. Read More

The budget crisis in New York’s Medicaid program stems from the failure of a key cost-control measure adopted during Governor Cuomo’s first term. In 2011, Cuomo and the Legislature imposed a “global cap” on state Medicaid spending that was tied to the medical inflation rate. The measure showed signs of working at first, but lost its effectiveness as circumstances changed, loopholes multiplied and compliance faltered. Read More

An analysis by Bill Hammond of The Empire Center for Public Policy said the continued drop bolsters the case against the Albany Legislature passing a new law imposing a state government-run health insurance, which Democratic candidates for president are pushing for on a national level. Read More

“If you have these really young kids and teens getting hooked, then that’s not good," said Bill Hammond, director of health policy at the Empire Center for Public Policy. "But the first step would be to do some research, have a public hearing, get the best expert evidence that you have. Instead of reacting to headlines, find out what’s really going on and proceed with proposed regulations.” Read More

A little-discussed hazard of creating a state-run single-payer health plan in New York would be its vulnerability to the business cycle. It would depend heavily on taxes collected from high-income New Yorkers, a source of revenue that's especially prone to booms and busts. A recession – or a downturn in the stock market – could easily open a budget hole not just in the billions of dollars, but in the tens of billions of dollars. Read More

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The Empire Center is an independent, non-partisan, non-profit think tank located in Albany, New York. Our mission is to make New York a better place to live and work by promoting public policy reforms grounded in free-market principles, personal responsibility, and the ideals of effective and accountable government.