Cuomo directs state to bar large health insurance rate hikes linked to individual mandate repeal
The insurance industry is seeking to hike health premiums by an average of 24% on individual policies in 2019, which state regulators previously said were double what they otherwise would have been had the Republican-passed federal tax law not done away with individual mandate that required people to purchase health insurance or face a tax penalty.
At a rally with a powerful health care union Monday, Cuomo announced that he'd directed the
He said the increases would result in an average
"If we allowed that rate increase to go through, it would be hundreds of millions of dollars as a bonanza to the private insurance companies," Cuomo said. "It would increase the cost to normal hardworking families. We're not going to let it happen."
Cuomo added that "insurance premiums must be based on actual cost, and not political manipulations."
But
"We agree with
He said both the state and federal government projected that loss of the individual mandate would drive up rates, in some cases by double digits.
"A key priority must be maintaining a stable marketplace in
Meanwhile, Cuomo said at the rally that he wants to put into state law
"Trump is trying to collapse the ACA, he's trying to wreak havoc on our health care system," Cuomo said.
He said the state has already banned insurance companies from discriminating against people with preexisting illnesses, required coverage of the 10 benefits laid out in the Affordable Care Act, and mandated an end to co-pays for breast cancer screenings.
Critics, including Cuomo's Democratic primary challenger
Nixon has called for passage of a state single-payer health care system, though she hasn't said how she'd pay for it.
Cuomo budget spokesman
Cuomo last year said that he believes a national single-payer program is a good idea, though he also indicated he'd sign a state bill if it passed.
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