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Schumer Warns of 40% Insurance Cost Hike for NY

9/19/2025

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Summary

Story summary

Senator Charles Schumer criticized federal health care cuts, warning that expiring tax credits could increase insurance costs for New Yorkers by 40%.
He stated that average families might see monthly costs rise by $400 to $500.
Schumer accused Republicans of blocking efforts to extend these credits and proposed making them permanent.
Governor Kathy Hochul urged Congress to extend enhanced premium tax credits, crucial for over 140,000 New Yorkers.
The GOP reconciliation law risks $7.5 billion in funding for New York's Essential Plan.

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Story summary

Senator Charles Schumer criticized federal health care cuts, warning that expiring tax credits could increase insurance costs for New Yorkers by 40%.
He stated that average families might see monthly costs rise by $400 to $500.
Schumer accused Republicans of blocking efforts to extend these credits and proposed making them permanent.
Governor Kathy Hochul urged Congress to extend enhanced premium tax credits, crucial for over 140,000 New Yorkers.
The GOP reconciliation law risks $7.5 billion in funding for New York's Essential Plan.