NYC Health Insurance Stabilization Fund insolvent
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, … Read more