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NY A08642
Bill
Status
5/22/2025
Primary Sponsor
Andrew Hevesi
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AI Summary
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Repeals the Health Care Reform Act (HCRA) taxes effective April 1, 2026, including the 9.63% surcharge on hospital-based health services and the covered lives assessment on privately insured individuals
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Creates a 10.2% public goods surcharge on insurance corporations, business corporations, and pass-through entities, reduced to 5.4% for employers offering health benefits equivalent to at least a bronze-level Affordable Care Act plan
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Exempts employers with fewer than 50 employees from the business corporation surcharge
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Establishes filing fee surcharges for partnerships and LLCs based on New York source gross income, ranging from $0 (income under $1 million) to $1.2 million (income over $1 billion)
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Directs new surcharge revenues to the Health Care Reform Act Resources Fund to maintain public goods programs including indigent care grants, medical malpractice insurance subsidies, and physician training programs, with surcharges set to expire March 31, 2029
Legislative Description
Enacts the "NYS health care tax reform act"; establishes a public goods and medicaid subsidy surcharge on insurance corporations; establishes a public goods and medicaid subsidy surcharge on business corporations; establishes a public goods and medicaid subsidy surcharge on pass-through entities; relates to filing fee surcharges; relates to revenues to be included in the health care reform act resources fund; establishes a public goods and medicaid surcharge on misclassified workers.
Last Action
print number 8642a
3/10/2026