Legislators are considering a healthcare system that would crush small business owners
New York’s No Good, Ugly, Very Bad Healthcare Proposal
Vermont senator Bernie Sanders has been
advocating for a single-payer healthcare system out on the campaign trail, to
the chagrin of many small business owners. Now it looks like New York
legislators might adopt a similar system for the Empire State.
Assembly Bill 5062 would establish the New York
Health program, which would provide universal health insurance for New Yorkers,
but not without a cost. The bill upsets many business owners because payroll
taxes would go up to pay for the program, and employers would end up paying 80
percent of the costs associated with the program. It would also eliminate
flexibility when it comes to what benefits employers must offer their
“It’s a one-size-fits-all program,” said Leslie
Moran, senior vice president of the New York Health Plan Association. “It
changes the abilities of employers to tailor benefits to their employees.”
New York law does not require a cost analysis of
proposals before they are voted on, but a look at similar proposals from
neighboring states offers a glimpse into the devastating impact this would have
on small business owners throughout the state.
Experts determined that the cost of Vermont’s
proposed universal healthcare system would raise payroll taxes to 11.5 percent
on businesses, and individuals would see a 9.5 percent of their income go
toward healthcare premiums, according to the New York Health Plan Association.
Members of the Assembly approved the bill, and
it awaits action in the fall from the Senate.