Senate Bill S87

2023-2024 Legislative Session

Enacts the Health Care Tax Reform Act

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Insurance Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-S87 (ACTIVE) - Details

See Assembly Version of this Bill:
A6012
Current Committee:
Senate Insurance
Law Section:
Financial Services Law
Laws Affected:
Amd §206, Fin Serv L; amd §1502-a, Tax L; amd §§2807-j & 2807-s, Pub Health L
Versions Introduced in Other Legislative Sessions:
2019-2020: A9029
2021-2022: S9522, A4911

2023-S87 (ACTIVE) - Summary

Enacts the Health Care Tax Reform Act; eliminates certain taxes and assessments on health insurance.

2023-S87 (ACTIVE) - Sponsor Memo

2023-S87 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    87
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 4, 2023
                                ___________
 
 Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Insurance
 
 AN ACT to amend the financial services law, the tax law and  the  public
   health law, in relation to enacting the Health Care Tax Reform Act

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. This act shall be known and may be  cited  as  the  "Health
 Care Tax Reform Act".
   § 2. Legislative findings. The Legislature hereby finds that:
   (a) The affordability of health care and health insurance is extremely
 important  in  ensuring  that the maximum number of New York State resi-
 dents can obtain high quality affordable health care;
   (b) Health care and health insurance are currently subject to  several
 taxes that directly and indirectly increase the cost of health insurance
 coverage,  including  an annual flat tax on all privately insured people
 in New York State called the covered lives assessment  that  raises  the
 costs  to  health  plans by $1.1 Billion, a 9.63% sales tax surcharge on
 certain  hospital  based  health  services  that  costs  consumers  $3.6
 Billion,  a  1.75%  flat tax on all commercial health insurance policies
 that costs consumers $350 Million, and a gross receipts tax on insurance
 companies called a section 206 assessment that costs health  plans  $149
 Million a year;
   (c)  Collectively,  the taxes on health care and health insurance cost
 consumers a total of over $5 Billion in 2018, which  exceeds  the  total
 amount  of  taxes  paid  by corporations through the franchise taxes and
 exceeds all other types of taxes except for personal  income  taxes  and
 general sales taxes; and
   (d)  The  taxes  on health care and health insurance are fundamentally
 regressive taxes because the taxes are unrelated to a consumer's  wealth
 or  ability to pay, directly impact hospitalization costs at a time when

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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