How will we pay for it?

We’re paying for it now. The average New Yorker pays $2,000 in taxes each year to prop up our broken healthcare system, in addition to their healthcare premiums, deductibles, co-pays and other out of pocket expenses. The average health insurance cost for an individual in 2022 in New York was $10,191 per year — and these costs rise each year. It is unsustainable, but there is another way. 

Under the NYHA, we will pay less and get more by cutting out waste and using the negotiation power of 20 million New Yorkers. New Yorkers will save billions of dollars by not paying rising premiums, deductibles, co-pays, out-of-network charges, and long-term care costs (home care, nursing home care). We’ll save tens of billions by cutting out insurance company bureaucracy and profit, lowering doctor and hospital administrative costs, and negotiating lower drug prices.

Instead of funding health insurance, we will fund healthcare and make sure that no New Yorker is left behind. 

The New York Health Act (NYHA) will generate enormous savings by replacing the marketing, bureaucracy, and profits of insurance companies with a single publicly-accountable plan, as well as by negotiating fair prices with drug companies. Data from the RAND study shows that NYHA, while covering everyone, eliminating all deductibles and copays and adding in long term care coverage will save billions of dollars in government spending each year. The NYHA will be paid for through a progressive tax and cost efficiencies resulting in 90% of New Yorkers spending less on health care.