New Yorkers will be hit with $1.7 billion in new federal taxes on private health insurance under the Affordable Care Act in 2014, the Conference of Blue Cross and Blue Shields estimates in this new report.  The federal taxes will come on top of $4.8 billion in total state taxes on private health insurance, the insurer group says.

The new federal charges will include a health insurance premium tax and an excise tax on “Cadillac” plans, plus a Transitional Reinsurance Program Fee and a Comparative Effectiveness Research Fee. Which are not to be confused with the Are We Sure We Really Want To Do This Fee.

Tags:

You may also like

Even With Federal Cuts, New York’s Health Funding Would Remain High

New York's health-care industry stands to lose billions of dollars in federal funding under the major budget bill being debated in Washington – a rare and jarring turn of events for a sector accustomed to steadily increas Read More

As Albany’s Session Ends, Watch for Rising Health Costs

Every session of the state Legislature brings a fresh crop of proposals that would drive up health-care costs, and 2025 is no exception. Here is a sampling of pending bills that, if Read More

House Budget Would Burst New York’s Essential Plan Bubble

The extraordinary cash bonanza associated with New York's Essential Plan – which has generated billions more than state officials were able to spend – would come to a crashing end under the budget bill advancing in Cong Read More

The House GOP’s Shrinking Budget Plan Could Still Cost New York Billions

The likely impact of federal health-care cutbacks has diminished in recent days as House Republican leaders backed away from some of their bigger-ticket proposals, reducing the estimated savings to $625 billion from previous figures of $715 billion and $8 Read More

How Medicaid ‘Expansion’ Changes Could Affect New York

As House Republicans consider cutbacks to federal Medicaid funding, their focus has turned to the so-called expansion population. Although the details of remain undetermined, the s Read More

New York’s Home Health Workforce Jumps by Another 10 Percent

New York's home health employment is continuing to soar, growing by 57,000 jobs or 10 percent from 2023 to 2024, according to newly released data from the U.S. Bureau of Labor Statistics. Read More

Immigrant Enrollment in ‘Emergency Medicaid’ Surges to 480,000

One of the biggest drivers of New York's Medicaid enrollment growth over the past decade has been "emergency Medicaid" for undocumented immigrants, newly released state records show. Read More

Upstate Insurance Customers Pay the Price for Medicare’s Hospital Rate Hike

A billion-dollar Medicare windfall for upstate hospitals has turned into a crisis for upstate health insurers that's threatening to disrupt coverage for millions of New Yorkers. The Read More