Cuomo seeks to reduce impact of latest Trump administration effort to weaken Obamacare

July 09--ALBANY -- The state agency that regulates the insurance industry in New York will look for ways to reduce the impact on health premiums in the wake of the Trump administration's Sunday decision to freeze certain Obamacare-related payments.

Gov. Cuomo on Monday ordered the state Department of Financial Services to review the impact of the federal order to freeze billions of dollars in payments from the Affordable Care Act's risk adjustment program that covers those with preexisting conditions. Insurers fear freezing billions of dollars in payments will cause significant problems within the marketplace.

Cuomo said he directed the Department of Financial Services to look at "all options and prepare to implement an expanded State Risk Adjustment Program that controls health cost increases as much as possible in case the federal program is not reinstated to ensure access to affordable care for all New Yorkers in the long term."

"Suspending the Risk Adjustment Program is the Trump administration's latest attempt to do administratively what they couldn't do legislatively: dismantle the Affordable Care Act," he said. "New Yorkers aren't fooled. We will take action against this regressive policy and protect our health care from the federal government's attacks."

The Cuomo administration says the Trump administration's previous actions, including the repeal of the individual mandate, have caused insurers in New York to double their requested premium increases.

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