More than 140,000 New Yorkers are facing major hikes in their health care costs after federal premium tax credits were allowed to expire — with average increases near 40% statewide.
Governor Kathy Hochul criticized congressional Republicans for refusing to extend the Affordable Care Act’s enhanced premium subsidies, warning the decision will hit working families hard just as open enrollment begins on November 1.
Individual plans will rise by an average of $1,400 per year. Couples will pay nearly $3,000 more. In some regions, like the Mohawk Valley and Southern Tier, average costs are climbing nearly 50%.
“These are hardworking everyday people who deserve affordable health insurance,” said state Health Commissioner Dr. James McDonald. “Without immediate federal action, many may be forced to choose between health care and basic necessities.”
Hochul said no state, including New York, can absorb the financial blow caused by the loss of federal support combined with the ongoing shutdown and budget cuts in Washington.
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