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The “New” New York Health Act: A Quarter Trillion Dollar Boondoggle

For Immediate Release
February 11, 2019

The “New” New York Health Act: A Quarter Trillion Dollar Boondoggle

The Realities of Single Payer, a diverse group of more than 40 employers, unions, taxpayers, and hospital and physician groups, supports high quality and affordable universal healthcare coverage for all New Yorkers. However, we strongly disagree that a single payer, government-run health program such as the reintroduced New York Health Act is the right approach.

An independent analysis of the previous version of the bill estimated that New York State would need to raise taxes by $210 billion to pay for it, doubling the current State budget and necessitating the single largest state tax increase in U.S. history. Amazingly, the amended bill dramatically increases the cost and the tax on most New Yorkers even more.

This new version of the New York Health Act dramatically increases the cost in the following ways:

Adds long term care benefits
The new bill immediately provides long-term care benefits, which increases the cost by an estimated $43 billion ($18-22 billion for government programs plus $21 billion currently covered by the privately insured).

Exempts lower income New Yorkers
The new bill exempts low income New Yorkers, raising the cost on everyone else. All New Yorkers earning above $25,000 will pay more.

To put this all into context, at a time when the State is facing an additional $2.3 billion deficit, where does New York get another quarter trillion dollars? Additionally, why would the State completely undo a system that the majority of people like and has been successful in covering 95% of the population. Legislators should focus on covering the remaining 5% of people who are not currently covered.

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About Realities of Single Payer

The Realities of Single Payer is a diverse group of organizations united in support of universal coverage but in opposition to legislation that would create a Single Payer Healthcare System in New York.

The group supports universal healthcare coverage for all New Yorkers. It believes healthcare coverage should be provided through a combination of private and government funded health insurance. We support allowing a variety of healthcare coverage options – employer-based, private and public health insurance programs – rather than forcing all New Yorkers to use a single government-run health insurance program.

The goal of The Realities of Single Payer is to provide accurate information on this critical healthcare issue.

Stay connected and follow the facts on Twitter @SinglePayFacts

 

Printable version here.

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