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
- DOL proposes new independent contractor rule; industry is ‘encouraged’
- Trump proposes retirement savings plan for Americans without one
- Millennials seek trusted financial advice as they build and inherit wealth
- NAIFA: Financial professionals are essential to the success of Trump Accounts
- Changes, personalization impacting retirement plans for 2026
More Advisor NewsAnnuity News
- F&G joins Voya’s annuity platform
- Regulators ponder how to tamp down annuity illustrations as high as 27%
- Annual annuity reviews: leverage them to keep clients engaged
- Symetra Enhances Fixed Indexed Annuities, Introduces New Franklin Large Cap Value 15% ER Index
- Ancient Financial Launches as a Strategic Asset Management and Reinsurance Holding Company, Announces Agreement to Acquire F&G Life Re Ltd.
More Annuity NewsHealth/Employee Benefits News
- Researchers from Pennsylvania State University (Penn State) College of Medicine and Milton S. Hershey Medical Center Detail Findings in Aortic Dissection [Health Insurance Payor Type as a Predictor of Clinical Presentation and Mortality in …]: Cardiovascular Diseases and Conditions – Aortic Dissection
- Medicare Advantage Insurers Record Slowing Growth in Member Enrollment
- Jefferson Health Plans Urges CMS for Clarity on Medicare Advantage Changes
- Insurance groups say proposed flat Medicare Advantage rates fail to meet the moment
- As enhanced federal subsidies expire, Covered California ends open enrollment with state subsidies keeping renewals steady — for now — and new signups down
More Health/Employee Benefits NewsLife Insurance News