All New Yorkers deserve affordable and accessible healthcare, but the single-payer healthcare system that Majority leaders advocated for today would be catastrophic for taxpayers.
The single-payer proposal could raise our income taxes by $1,600 per month almost $18,000 annually. It would be controlled, government-mandated, rationed healthcare that would limit the ability for New Yorkers to make choices about their own healthcare and in all likelihood decrease the quality of our healthcare.
Recent pollingÂ indicated a lack of support for single payer healthcare: only 37 percent were in support after being told it would require people to pay more in taxes. Worse, the number fell to 26 percent in support when told single payer would cause some medical treatments and tests to be delayed.
We can do better than raising taxes, limiting access to healthcare, and weakening our expectations for care. The state Legislature should create 529-style healthcare savings accounts and leave the decision making to middle-class families. These accounts would be supplemented by new and current wasteful state funding to ensure that everyone gets a seat at the table when it comes to their healthcare. This will make healthcare companies compete by putting the best they can offer on the table for patients to choose.
Contributions to the accounts would be tax free, just like 529 college savings accounts. This proposal would reduce costs and preserve healthcare choice for New Yorkers.