Over 100,000 New Yorkers Face Steep Health Insurance Cost Hikes Without Federal Action

(Bronx, NY) - State Senator Gustavo Rivera alongside 20 of his colleagues in the New York State Senate penned a letter to the New York congressional delegation urging them to take action to stop the expiration of critical health insurance premium subsidies. If Congress fails to take action in the coming weeks, premium tax credits and assistance included in the American Rescue Plan will expire at the end of this year. These subsidies allow low-income New Yorkers to access no-cost insurance and further extends premium assistance to households where healthcare costs are a significant portion of their income, which significantly offsets the high cost of private insurance premiums for more than 100,000 New Yorkers. If these programs are not extended, experts estimate that New Yorkers will see insurance premiums increase by 58% on average, according to the National Academy for State Health Policy.

"New Yorkers are facing higher prices across the board, so I'm urging my congressional colleagues to stop health insurance costs from skyrocketing by extending critical premium assistance included in the American Rescue Plan," said State Senator Gustavo Rivera, 33rd District, The Bronx. "Potential expiration of premium assistance is a dire situation that puts over hundred thousand New Yorkers at risk of drastic health coverage cost increases or losing health coverage entirely. I'm sounding the alarm to extend premium assistance and no-cost health coverage to prevent potentially devastating disruptions in our healthcare system."