(Dewitt, New York, Aug. 2, 2018) - Louis Atti, chair of the board of Big I New York, the state's largest insurance producer trade association, made the following statement today in response to a new analysis of the proposed New York State Health Act. The proposed law would create a comprehensive single-payer health plan covering all New York State residents. The report was written by the RAND Corporation and commissioned by the New York State Health Foundation.

"This report confirms what we already knew - a government-run comprehensive health plan will cost too much and will be unsustainable. The state would have to collect 156 percent more in tax revenue in 2022, an increase of $139 billion, just to cover the cost of the plan. That cost will grow to $210 billion within ten years. New York's residents and businesses simply cannot afford these crushing tax increases.

Many New Yorkers already have health insurance coverage that works for them, including employer-sponsored plans and Medicare. A state-run plan would disrupt these successful arrangements.

Big I New York and its member independent insurance agents and brokers fully support the goal of providing quality and affordable health insurance coverage to all New Yorkers. Rather than creating an entirely new system, we believe the state should build on the success of New York State of Health, which today insures more than 4.3 million residents through a variety of public and private programs. The state would also do well to focus on reducing the costs of medical care and prescription drugs, as these are the factors that drive high insurance premiums.

We will continue to oppose the creation of a single-payer health plan in New York and work instead to enact affordable and sustainable programs that will protect our residents and businesses."

About Big I NY

Big I New York exists to fulfill the educational, political, and business interests of our more than 1,750 agencies and their 13,000 plus employees. We believe independent insurance agents serve customers best with trusted advice and the right coverage options to protect what matters most.
 
Our members are independent insurance agents and brokers, which means they can provide consumers with a choice of products from more than one insurance company and in turn give consumers unrivaled service, and the best auto, homeowner, and business coverage to meet their changing needs. In addition, most Big I New York members proudly identify themselves as Trusted Choice^® agents and brokers, a national consumer brand uniting more than 21,000 independent agencies across the United States.

For more information, go to www.trustedchoice.com or www.biginy.org.