New York State Budget Institutes Revenue-Neutral Health Plan Tax

By Gregory Mitchell and Benjamin Glass on May 23, 2024

Posted In Employee Benefits, Health and Welfare Plans

The New York State fiscal year 2024 – 2025 budget institutes a new tax on health plans, including insurers and managed care organizations. This tax has been garnering attention for its promise to yield $4 billion for New York State. The expected revenue from the tax, however, is set to come not from the health plans operating within the state but from the federal government. California implemented a similar scheme last year.

Gregory Mitchell
Greg Mitchell works with healthcare payors and providers to meet the full spectrum of their managed care and reimbursement arrangement needs. He helps managed care organizations, third-party administrators, independent practice associations, risk-bearing entities, management services organizations, hospitals and health systems, digital healthcare providers, and other organizations both large and small negotiate and draft a range of managed care and value-based agreements. Greg has experience with a variety of arrangements and models, including fee-for-service, bundled payment, shared savings and shared loss models, gainsharing and capitation arrangements. Read Greg Mitchell's full bio.

Benjamin Glass
Benjamin counsels private equity firms, portfolio companies, physician practices, and management services organizations on healthcare regulatory frameworks governing facility licensure and accreditation, clinical laboratory registration, corporate practice of healthcare professions, and changes of ownership and control over healthcare entities navigating physician practice management transactions. Read Benjamin Glass's full bio.

New York State Budget Institutes Revenue-Neutral Health Plan Tax

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