Editor, Yonkers Tribune
Our national unemployment rates are higher than those experienced during the Great Depression, yet our healthcare insurance industry is boasting about the possibility for expanded profits! Insurers who left the Obamacare marketplace when the individual mandate to hold insurance was lifted are now reentering numerous state’s offerings. How can this be?
Profits will be created, in part, due to the many people who will have to move to ACA plans or Medicaid for their insurance. Since protections for pre-existing conditions are still in place, many of the unemployed will seek these insurance options. Insurers know that people with conditions like cancer will seek these alternatives bringing in increased premiums and thus increasing the stability of their business.
Additionally, as the onslaught of COVID-related medical bills begin arriving for those who have been hospitalized, we will begin to read the stories of people being surprised at how much they are still expected to pay, even with insurance coverage.
So, in the midst of financial and emotional hardship for millions of people across the country, one business sector will thrive and even expand at our expense. This shouldn’t be. There is something you can do to help change this situation. Supporting the New York Health Act is the obvious solution. This legislation would guarantee coverage for every resident in NY. There would be no premiums, co-pays, co-insurance or deductibles. Millions of cost savings dollars are predicted for the state, especially at a time when our NY State budget is deeply challenged.
You can learn more about the NYHA at www.nyhcampaign.org. We must do better, and we can.