A Single Payer health care system would have devastating consequences for New York State businesses. Under the New York Health Act, businesses would face a staggering new payroll tax to cover 80 % of the new revenue required to fund the system. The total cost of this new system is estimated to be $350 billion.
Businesses would no longer have the option to choose the health care plan that makes the most sense for their employees. The payroll tax would be mandatory for all New York employees and employer-sponsored coverage would be prohibited.
Employees would also pay a payroll tax to fund the remaining 20% of costs.
Everyone would be forced to use the same government health care plan run by unaccountable Albany politicians.
Employers can use the chart below to calculate the cost of the new payroll tax for their employees.