RAND finds single-payer to be viable in New York, if...
Aug 01, 2018 7:00 am
Dan Goldberg, Nick Niedzwiadek and Amanda Eisenberg are reporting for Politico New York a bill that would establish a single-payer health system in New York is financially feasible and could curtail spending in future years, according to a study unveiled July 31. The report compiled by the RAND Corp. was commissioned by the New York State Health Foundation. The New York Health Act would provide universal insurance coverage with no copays, deductibles or premiums for all state residents, regardless of immigration status, and would lead to higher utilization while lowering health plan and provider administrative costs. It would save the system $15 billion, or approximately 3.1 percent, by 2031, compared to current policies, according to the report. However, for the bill to actually work, the current administration in Washington would have to grant a federal waiver to redirect all federal, state and Obamacare funds used for Medicaid, Medicare and marketplace tax credits to the New York Health Act. And the New York Health Act calls for $139 billion in new state tax revenue by 2022 through income and payroll taxes on both employers and individuals, an increase of more than 156 percent of what is currently collected. The sponsor of the health act legislation, Assemblymember Richard Gottfried of Manhattan, declared the RAND report a “triumph” and said he would raise the taxes on high-income earners to protect low-income earners. The health act legislation already has become an issue in the current gubernatorial contest. Cynthia Nixon endorsed it last week as part of her primary challenge to Gov. Andrew Cuomo, and Republican Marc Molinaro said he would veto a single-payer bill. A link to the full report can be found at wgxc [dot] org [slash] newsroom. Read the full story at Politico New York.