Cuomo Strong-Arm Tactic Could Drive Up Costs for Healthcare Exchange, Taxpayers

 

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New York’s healthcare exchange is flailing,  and companies are asking for sky-high premium increases to make offering plans on the exchange possible

The Buffalo News reports BlueCross BlueShield requested an insane 49-percent average increase for individual health plans.

You’re going to need some urgent healthcare if you’re the person getting that bill.

This is an extreme example of an overall trend that has companies needing big premium increases to keep operating on the exchange.

It’s understandable that at some point, some companies won’t be able to handle it. Though federal healthcare reform could offer some relief, by allowing companies to not have to provide the full 10 benefits currently demanded by Obamacare.

But Governor Cuomo isn’t about to allow any flexibility – or reduced costs – for insurance companies.

The Governor recently announced that he will ban insurance companies from participating in Medicaid and contracts with state agencies if they leave New York’s health insurance exchange, or fail to provide the 10 benefits.

Forcing companies in the exchange to provide all these benefits means premiums will keep going up, and New Yorkers will keep paying more for healthcare.

On top of that, banning companies from Medicaid and state contracts means less competition, and that could mean higher costs for the state – and that means taxpayers.

It is incredible that New Yorkers could be forced to pay more in multiple ways because of the Governor’s political strong-arm tactic.

New Yorkers are already being driven out of the state thanks to New York’s high tax burden and cost of living. Now lawmakers are driving insurance companies out, and more New Yorkers are sure to follow.

If you’re tired of our expensive state becoming more unaffordable, join Reclaim New York today