SCHUMER SOUNDS ALARM: NEW YORKERS’ HEALTHCARE COSTS COULD SPIKE A WHOPPING NEARLY 40% A MONTH IF REPUBLICANS REFUSE TO ACT; SENATOR BREAKS DOWN IMPACT REGION-BY-REGION AND[...]

For Months, Schumer Has Warned Of Looming ACA Tax Credit Cliff, But GOP Voted Against Extending Vital Healthcare Subsidies THREE TIMES; Now, New Yorkers Are Receiving Letters Of Their Skyrocketing Health Insurance Rates, While Hospitals Suffer From Medicaid Cuts And Thousands Risk Losing Health Coverage

Average Family From Western NY To North Country Could See Health Insurance Spike Over $3,000 A Year If Healthcare Tax Credits Expire, Senator Demands Action With Upcoming Government Funding Bill, Says We Must Lower Costs & Stop Healthcare Cliff

Schumer: We Must Stop Healthcare Premium Hikes For New Yorkers, And Millions Of Americans, Before It Is Too Late

As Congressional Republicans refuse to act on the looming healthcare costs cliff, with New Yorkers now receiving letters of new sky-rocketing healthcare premiums up an average of nearly 40% every month, U.S. Senator Chuck Schumer today demanded immediate action to extend the vital Affordable Care Act (ACA) premium tax credits that are set to expire, raising healthcare costs for millions across America. Schumer announced his plan to keep vital healthcare tax credits from expiring, cancelling the GOP's devastating Medicaid cuts that are crushing local hospitals and funding the government.

"New Yorkers can't afford to be forced to pay thousands more each year on healthcare. Letters are being sent out now with eye popping new health insurance rates up nearly 40% a month, and some are losing their healthcare entirely. Since taking office, Trump has taken a meat ax to Upstate NY's healthcare system. Now with costs skyrocketing in every aspect of life, we are on the verge of a healthcare crisis, but Republicans in Congress refuse to do anything about it. Families from Buffalo to Albany are already stretched thin and we can't take away one of their main lifelines when it comes to lowering their healthcare costs," said Senator Schumer. "We don't have time to waste. We are already seeing layoffs at local hospitals citing Trump's cuts, and this healthcare tax credit cliff will spike health premiums and send many families over the edge. That is why I am announcing legislation to meet this health care crisis moment. To address the healthcare crisis that Trump and the GOP created by reversing their catastrophic healthcare cuts that would kick millions off their coverage and permanently extend the premium ACA tax credits."

Schumer said the average New Yorker could see their monthly costs spike by nearly 40% and many more will lose their healthcare entirely if the ACA tax credits expire. A breakdown of the average monthly cost increase for a couple by region from New York State can be found below:

Schumer revealed his plan to protect New Yorkers from skyrocketing healthcare costs while reversing devastating Medicare cuts that threatened New York's hospitals and healthcare system. The Senator said New Yorkers are tired of inaction on the high costs of the status quo, and Congress needs to undo the damage that could bring sky-high health insurance costs for 1.7 million across the Empire State.

Under Schumer's leadership, Senate Democrats have already tried to pass legislation to extend these tax credits three times, but Senate Republicans have continued to block it. Though some Republicans in Congress have already said these tax credits should be extended, as the government funding fight continues, Republicans have equally refused to act to stop these entirely avoidable healthcare cost increases for New Yorkers.

As insurers set rates for next year, New Yorkers are already starting to receive letters informing them of new, spiking health insurance rates. More than 140,000 New Yorkers currently qualify for premium tax credits, which lower their cost of coverage, and 80,000 New Yorkers will lose health coverage entirely if Congress fails to extend these credits.

Schumer revealed his new plan to keep the government funded and extend premium tax credits indefinitely, protecting New Yorkers from skyrocketing healthcare costs, while reversing the GOP's deep Medicaid cuts that have already caused hospitals across America to shut down while triggering layoffs across New York State.

Schumer said after deep GOP Medicaid cuts, New Yorkers face a healthcare costs crisis unlike anything they have seen since the pandemic. The GOP's plan to cut Medicaid has already started to hit New York State, with experts saying this is only the beginning. In the Hudson Valley, Garnet Health laid off 42 employees and cut programs for Hudson Valley patients, citing the disastrous Medicaid cuts in the GOP's "Big, Beautiful Bill." In Western New York, Kaleida Health announced it will close Buffalo Therapy Services clinics, leading to more layoffs. In the Capital Region, Ellis Medicine announced it was moving outpatient surgical procedures performed at Bellevue Woman's Center in Niskayuna to its main campus in Schenectady, which patients worry is the first step in the Niskayuna hospital's eventual closure.

The GOP reconciliation bill is also threatening coverage for 1.7 million New Yorkers on the Essential Plan, which provides low or no-cost coverage for working families. New York Republicans voted for the bill that is creating a $7.5 billion budget hole for New York State, putting the entire Essential Plan at risk. Approximately 450,000 New Yorkers are expected to lose access to New York's Essential Plan as a result of the GOP's healthcare cuts, including 16,200 in Erie County, 16,000 in Monroe County, 8,900 in Onondaga County, 5,100 in Albany County, 3,800 in Broome County, 1,400 in Clinton County, and 7,600 in Rockland County.

Schumer said Congress must act now to avoid a government funding lapse and the ACA tax credit cliff to prevent New Yorkers from higher healthcare costs and losing coverage before it is too late.

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