Tuesday, March 27, 2018

Cuomo’s Latest Proposal Would Hit Fidelis, MetroPlus


By Dan Goldberg and Nick Niedzwiadek  

New York State would be allowed to confiscate money from private not-for-profit health insurers under Gov. Andrew Cuomo’s latest budget pitch, a proposal that has left many in the insurance industry apoplectic.

A draft proposal obtained by POLITICO outlines the idea, which bears a striking resemblance to an unsuccessful plan proposed by former Republican Gov. Chris Christie in New Jersey, and one that so far has little traction with legislators.

The governor’s proposal would apply to not-for-profit prepaid health service plans — the kind that offer only Medicaid — that have more than 150 percent of the minimum contingent reserve. The minimum contingent reserve is equal to 7.5 percent of a company’s net premium income.

Click here for the full article. 

Source: Politico (via Empire Report New York) 

No comments: