Private health insurers fear Cuomo to increase taxes to cover $6.1 billion deficit
from Times Union
Ahead of Gov. Andrew M. Cuomo’s release of the 2020-21 fiscal year state budget, a private insurance organization is sounding the alarm on what it fears may be a tax hike on those who purchase private health insurance. The New York State Conference of Blue Cross and Blue Shield Plans recently released a report showing that the state collected about $5.2 billion from four taxes on private health insurance last year. With the state facing a $6.1 billion budget gap, largely due to increased Medicaid costs, the group fears these taxes — which it says are only imposed in New York — could be increased to fill the hole.
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