Originally created in 1984 to cover the insurance premium difference between GHI and HIP. It has been used as a virtual piggybank by municipal unions and mayors in labor bargaining. The Fund owes the city $3.1 billion, not counting obligations tallied for fiscal years 2024 and 2025.
GHI and HIP merged in 2006 becoming EmblemHealth, yet still offers two separate health insurance plans to take advantage of the Fund.
The City know it was going insolvent back in 2018, thus set up Medicare Advantage as a cost-savings plan. Ex-Comptroller Brad Lander published its report on December 30, 2025.
How many funds and plans that were set up by City and State, still operating, but are no longer valid?