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For Release — Dec. 21, 2009

Business Council says Senate Health Care Reform Bill Fails New Yorkers

ALBANY— “The Senate's health care reform bill fails New York employers and individuals by adding to the cost of health insurance rather than reducing costs,” said Kenneth Adams, president and CEO of The Business Council of New York State, Inc.

“Throughout the legislative process The Business Council has called on New York's representatives to look at health care reform through a “New York lens”. This bill instead hurts New Yorkers,” said Adams.

“Gov. David Paterson estimates this bill as currently drafted will cost New York more than a billion dollars annually and rip a hole of as much as $400 million in the current State Financial Plan,” added Adams. “New York's overburdened taxpayers cannot fill those gaps.”

“President Obama set a primary goal of bending the cost curve for health insurance coverage, but the Senate bill will not meet that objective for New York's employers and individuals. Instead we have a bill that will increase Medicaid coverage and reimbursement for the rest of the nation but leave New Yorkers whose generous Medicaid program already meets those thresholds footing the bill,” concluded Adams.

The Congressional Budget Office estimates that premiums for those who buy their own insurance, for example, will increase by 10 percent by 2016.

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