How repealing the Affordable Care Act could affect New York
Buffalo News (NY)
Jan. 04----Health insurance could be at risk for more than 2.8 million New Yorkers, including 150,493 in Western New York, who have enrolled for coverage under President Barack Obama's health care law, many of them with ongoing medical needs.
--If Medicaid becomes a block grant program, states like New York with a large number of Medicaid patients could face huge budget problems, unless they cut costs by taking away coverage from people. Gov. Andrew M. Cuomo estimates a $3.7 billion state budget impact.
--Hospitals, which have experienced job growth under the law, may face dire financial consequences as uninsured patients show up in their emergency rooms. Repeal of the law would cost Western New York hospitals tens of millions of dollars a year, rs, according to the Healthcare Association of New York State, a lobbying group.
--Uncertainty would likely arise over the impact on insurance premiums for individuals who pay directly for coverage, as well as for employer-sponsored health plans.
--Questions already have surfaced over the future of the law's significant quality and payment reforms that hospitals and doctors are incorporating into their operations, although experts say they expect these changes to stay.
___
(c)2017 The Buffalo News (Buffalo, N.Y.)
Visit The Buffalo News (Buffalo, N.Y.) at www.buffalonews.com
Democrats, Republicans Spar Over Looming Obamacare Battle
New Eastbridge Report Examines Term Life Products Offered in Today’s Voluntary Market!
Advisor News
- How life insurance can provide liquidity for wealthy families
- Retirement providers turn to digital engagement to retain assets
- Looking out for clients with diminished mental capacity
- House panel advances CLEAR Forms Act backed by IRI
- Modifying life insurance based on evolving needs
More Advisor NewsAnnuity News
- Global Atlantic Announces Launch of ForeLifetime Income, a New Fixed Index Annuity
- A-Cap strikes back with lawsuit accusing SC regulators of sloppy process, leaking secrets
- AM Best to Discuss Its Views on Private Credit Surge and Risks at 2026 NAIC/NIPR Insurance Summit
- OID recovers $260M in life insurance benefits
- NUNN BILLS TO COMBAT PAYMENT SCAMS, CUT FINANCIAL RED TAPE PASS FINANCIAL SERVICES COMMITTEE
More Annuity NewsHealth/Employee Benefits News
Life Insurance News