Time for Affordability

New York has the highest health care costs in the country. According to the Centers for Medicare & Medicaid Services, per capita spending in New York was 37% higher than the national average and the escalating cost of health care is a major challenge for consumers, employers and labor unions.

Health plans are committed to ensuring every New Yorker has access to high-quality health care, but increases in the prices providers and drug companies charged, coupled by government mandates and taxes on insurance, threatens the affordability of coverage.

Hospital Costs

Hospital prices are growing faster than the economy and New York’s inpatient hospital prices are the third highest in the country. Hospital spending grew 10.4% in 2023, a significant jump from the 3.2% growth in 2022, contributing to premium growth and increased out-of-pocket costs for families.

Prescription Drug Costs

Out-of-control price increases that Big Pharma continues to charge for prescription drugs coupled with restrictions on cost-sharing leads to higher health care premiums for consumers, labor unions, and employers, particularly small businesses.

Mandated Benefits

New York mandates coverage for more than 40 specific treatments or services, many of which are for therapies or screenings that go beyond evidence-based guidelines recommended by major national health organizations, adding to premium costs.

Health Insurance Taxes

Taxes on health insurance in New York total more than $6.5 billion annually, adding more than $1,000 to the cost of coverage for the average family.

New Yorkers are shouldering the weight of skyrocketing health care prices. Measures are needed to tackle the factors driving the growth in health care costs so that coverage is affordable for every New Yorker.

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Health Insurance 101

Health Care Dollar

Health Care Spending