Last Thursday, the New York State Conference of Blue Cross and Blue Shield Plans (NYSCOP) released an infographic that analyzes the hidden health insurance taxes and fees that are driving up the cost of health insurance.
NYSCOP says that in 2014, New Yorkers will see a $1.8 billion increase in federal health insurance taxes, and an additional $100 million increase in 2015.
This is an issue that Unshackle Upstate has been outspoken on in the past. We’ve noted that New York leads the nation in “hidden” health insurance taxes. New Yorkers with private health coverage pay more than $4 billion in state health insurance taxes and fees today, more than twice the insurance taxes and fees any other state imposes.
If we are truly serious about changing the trajectory of the Upstate economy, we have get away from these hidden taxes.