Are NY’s Healthcare Costs Out-Of-Control?

July 15, 2016 at 8:59 am Leave a comment

healthcare-costsIf you’re a New York credit union executive pulling your hair out  over rising healthcare costs,  or  a credit union employee trying to manage increasing  out-of-pocket medical  expenses  you are not alone.

In some of the most alarming news I read all week, an analysis  by  Bill Hammond of the Empire Center reports that New York has the second highest healthcare costs in the country second only to the great state of?…Alaska.

Writing in the Empire Center’s NY Torch blog, Hammond tells us that “New York emerged as the second-costliest state for employer-sponsored health insurance after its premiums rose at more than three times the national rate in 2015, according to just-released federal data.” Some of the numbers are staggering. The average family premium in New York was $19,630, compared to a national average of $17,322.  And things are probably going to get worse before they get better.  Many plans are losing money.

Somehow I don’t think you will be seeing these facts highlighted in those ubiquitous commercials extolling NY’s  pro-business environment.

On  that happy note,  stay healthy and have a great weekend.

Entry filed under: General.

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Authored By:

Henry Meier, Esq., General Counsel, New York Credit Union Association.

The views Henry expresses are Henry’s alone and do not necessarily reflect the views of the Association.

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