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In an effort to patch the hole, Cuomo is considering slashing payments to hospitals and nursing homes in the current budget and perhaps next year.
“Savings may include across the board reductions in rates paid to providers and health plans, reductions in discretionary payments, and other actions that can be executed administratively in the current fiscal year,” the report reads.
It’s Cuomo’s biggest budget shortfall since he came into office in 2011, experts said.
“This is the toughest budget that Cuomo has faced partly because he had bigger gaps when he took office, but he also had more political capital,” said Bill Hammond of the fiscally conservative Empire Center.
“He kind of owns this crisis because it’s not driven by the economy, it’s driven by the shortcomings of his own management of the Medicaid program in particular.”
One health care expert said the growing Medicaid costs are the result of New York’s costly and unwieldy health care system.
“They failed to present a real plan,” criticized Dave Friedfel of the Citizens Budget Commission, a fiscal watchdog group.
“They’ve known about this for a long time, but the plan they did present is really one part gimmick,” he added.
His analysis shows the state was already in trouble after pushing off a $1.7 billion Medicaid bill in March 2019 into 2020, which grew into the $4 billion.
A spokesman for the Division of Budget refused to give details ahead of Gov. Cuomo’s January budget address on how the state plans to cut Medicaid expenditures incurred and rolled over from last year.
If only we had as much capital gains tax revenues as California. Are out bankers not cashing out their stock options? Is NYC not selling enough RE to the chinese at huge prices?
But Amazon is still coming, and we not giving them any incentives.
What do you expect? The governor thinks that spending taxpayer money, even money that they haven't even earned yet is better than cutting waste. One of the richest and most prominent residents leaves and he says "good riddance". What is wrong with this guy? Life long NYer's are leaving . Immigrants are moving in. The last time I was in NYC, hardly anyone spoke English.
What do you expect? The governor thinks that spending taxpayer money, even money that they haven't even earned yet is better than cutting waste. One of the richest and most prominent residents leaves and he says "good riddance". What is wrong with this guy? Life long NYer's are leaving . Immigrants are moving in. The last time I was in NYC, hardly anyone spoke English.
You say the last 2 sentences like that is something new...
The heart of this article is this statement: "growing Medicaid costs are the result of New York’s costly and unwieldy health care system."
I thought Obamacare was going to reduce medical costs? What happened?
The share of New Yorkers without medical coverage last year was 5.4%, down from 5.7% in 2017. The number of uninsured New Yorkers dropped by about 72,000, to just over 1 million. The rate of uninsured is now half what it was in 2013, the year before the Affordable Care Act, also known as Obamacare, went into effect.
I thought Obamacare was supposed to make certain that EVERYONE would have healthcare coverage, and yet 6 years later, New York still has over 1M residents w/o coverage, or 5.4% (~1 in 20). What happened? Why not 100%?
Obamacare apparently forced more New Yorkers into Medicaid, & New York taxpayers must now pay for them.
Cuomo and the Legislature just needs to raise taxes again to pay for these new Medicaid recipients. If he just keeps paying healthcare providers less and less, the quality of care will become deplorable, or they will go bankrupt.
So, costs have gone up, more people are on Medicaid, ~1 in 20 New Yorkers are still w/o coverage, and taxes are going to have to be raised again to pay for all of this to eliminate the deficit.
In an effort to patch the hole, Cuomo is considering slashing payments to hospitals and nursing homes in the current budget and perhaps next year.
“Savings may include across the board reductions in rates paid to providers and health plans, reductions in discretionary payments, and other actions that can be executed administratively in the current fiscal year,” the report reads.
It’s Cuomo’s biggest budget shortfall since he came into office in 2011, experts said.
“This is the toughest budget that Cuomo has faced partly because he had bigger gaps when he took office, but he also had more political capital,” said Bill Hammond of the fiscally conservative Empire Center.
“He kind of owns this crisis because it’s not driven by the economy, it’s driven by the shortcomings of his own management of the Medicaid program in particular.”
One health care expert said the growing Medicaid costs are the result of New York’s costly and unwieldy health care system.
“They failed to present a real plan,” criticized Dave Friedfel of the Citizens Budget Commission, a fiscal watchdog group.
“They’ve known about this for a long time, but the plan they did present is really one part gimmick,” he added.
His analysis shows the state was already in trouble after pushing off a $1.7 billion Medicaid bill in March 2019 into 2020, which grew into the $4 billion.
A spokesman for the Division of Budget refused to give details ahead of Gov. Cuomo’s January budget address on how the state plans to cut Medicaid expenditures incurred and rolled over from last year.
Well Howie, lets talk about that.
When you compare the Debt to GDP ratio, unfortunately, N.Y. is number one. But guess what state is number two?
Now why is it that your state, South Carolina, with significantly less population than N.Y. cannot seem to balance their books. This is even more odd when you consider that SC gets significantly more money back from the Federal Government when compared to N.Y. Even stranger, North Carolina, has one of the lowest debt to GDP ratios in the country. Looks like you chose the wrong Carolina.
Oh well, NYC and the voters there can cough up the money. Their Cuomo has been spending money like a drunken sailor, awarding money to this and awarding money to that. Giving this and that away for free. The rich have been leaving NY and he's happy about it. Middle class taxpayers are also leaving. He welcomes in the 3rd world which require an enormous amount of services. Jobs are leaving and not being replaced.
Oh well, NYC and the voters there can cough up the money. Their Cuomo has been spending money like a drunken sailor, awarding money to this and awarding money to that. Giving this and that away for free. The rich have been leaving NY and he's happy about it. Middle class taxpayers are also leaving. He welcomes in the 3rd world which require an enormous amount of services. Jobs are leaving and not being replaced.
Oh well, NYC and the voters there can cough up the money. Their Cuomo has been spending money like a drunken sailor, awarding money to this and awarding money to that. Giving this and that away for free. The rich have been leaving NY and he's happy about it. Middle class taxpayers are also leaving. He welcomes in the 3rd world which require an enormous amount of services. Jobs are leaving and not being replaced.
But somehow this is all Trump's fault.
Don't forget that almost $2 billion went to Cuomo's well connected friends. Many people went to prison. Cuomo himself was being investigated, but he killed that investigation. I guess that's what you get with only one party in charge, with no oversight.
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