Governor Kathy Hochul announced today that the state has received a final commitment of $10 billion from the federal government to help provide affordable health insurance to around 1.5 million New Yorkers. These funds were awarded through the Federal State Innovation Waiver, and represent the single largest amount yet awarded through the program.
“By securing this nation-leading investment, we’re expanding affordable health insurance for New Yorkers and continuing to address the cost of living in communities statewide,” Governor Hochul said. “I’ll never stop fighting to ensure New Yorkers get the affordable, quality care they need.”
New enrollees in the Essential Plan offered through the NY State of Health are expected to save more than $6,100 per year compared to commercial coverage thanks to the new funds.
NY State of Health Executive Director Danielle Holahan said, “Thanks to the Affordable Care Act’s Section 1332 State Innovation Waiver authority, NY State of Health can provide 1.5 million New Yorkers health insurance with $0 premiums, saving individuals and families over $6,100 of their hard-earned money each year. We will continue to work with our federal partners to pursue innovative ways to keep New Yorkers healthy without hurting their pocketbooks.”
