New York Governor Kathy Hochul criticized congressional Republicans for not extending enhanced premium tax credits under the Affordable Care Act (ACA), a decision she says will significantly increase health insurance costs for about 140,000 residents across the state. According to the Governor’s office, individuals could see an average annual increase of nearly $1,400 in premiums, while couples may pay around $3,000 more next year. These increases come as New Yorkers prepare for open enrollment starting November 1.
“Republicans in Washington have made it clear – they don’t care about New Yorkers’ health care,” Governor Hochul said. “It’s shameful. By refusing to extend the Affordable Care Act tax credits, they are turning their backs on their constituents and ripping away access to affordable, quality health care. Republicans in Congress need to do the right thing and extend these credits that make health insurance for New Yorkers more affordable.”
The lapse of enhanced ACA subsidies follows reductions in federal funding enacted under H.R.1 and is compounded by a recent government shutdown. The Governor’s office stated that no individual state has enough resources to offset these losses without federal support.
Governor Hochul called on congressional Republicans to extend the Enhanced Premium Tax Credits to help keep insurance affordable for New Yorkers.
Regional data from the Governor’s office show that average monthly cost increases for couples range from $206 in the Mid-Hudson region (31%) to $270 in Mohawk Valley (49%). Statewide, couples are expected to see an average monthly increase of $228 or 38%.
New York State Health Commissioner Dr. James McDonald commented on the impact of losing these tax credits: “I thank Governor Hochul for standing up for New Yorkers who rely on the Affordable Care Act’s enhanced premium tax credits to keep their health care costs affordable. These are hardworking everyday people who deserve affordable health insurance. The start of the open enrollment period is fast approaching and without immediate action at the federal level, the threat of increased premiums is quickly becoming a reality. Allowing these enhanced premium tax credits to expire will be devastating for hardworking New Yorkers who will be forced to choose between paying for food, rent or paying for the health care they need to survive.”
