Gov. Hochul announces historic multi-year healthcare investment of $20 billion in fiscal 2023 budget
Governor Kathy Hochul today announced a historic multi-year healthcare investment of $20 billion in the fiscal 2023 state budget. Creating better working conditions for healthcare workers will be a priority for which $1.2 billion will be allocated Awards for frontline healthcare workers and a $4.5 billion multi-year investment in pay reform. Other landmark investments include $2.4 billion to improve healthcare infrastructure and $3.9 billion to provide assistance to hospitals struggling financially with the COVID-19 pandemic. Another $7.7 billion will be spent over four years to raise the minimum wage for home care workers by $3. These groundbreaking investments will work together to improve working conditions and… 20 percent growth in workforce over the next five years and improve health care Industry for all New Yorkers.
“New York depends on a strong, stable and equitable health care system, and its foundation is the workers of the industry, of whom the impossible has been asked and will continue to do so two years into the pandemic.” said Governor Hochul. “This budget includes historic investments that will rebuild the healthcare economy by increasing healthcare worker salaries, improving their workplace infrastructure and providing incentives that will attract more people to the workforce. I thank Majority Leader Stewart-Cousins and Speaker Heastie for their work in ensuring we are building the healthcare economy of the future.”
Over $5 billion of this funding will support wage reforms and bonus wages for healthcare workers. That includes $1.2 billion in awards for healthcare and mental health workers, with awards of up to $3,000 going to workers who make less than $125,000 and stay in their position for one year , as well as prorated bonuses for those who work fewer hours. $500 million will be provided for cost-of-living adjustments to increase wages for human service workers. The budget also includes a 5.4 percent cost-of-living adjustment for HR employees.
Healthcare infrastructure improvements are essential to not only improve the work environment for medical staff, but also to drastically improve patient care and waiting times. The budget provides for a new $2.4 billion investment to fund infrastructure improvements for hospitals, nursing homes, outpatient care centers, community-based centers and other eligible healthcare facilities and providers. in addition, $3.9 billion in funding over four years — an 88 percent increase from the previous four years — will be dedicated to providing assistance to hospitals still struggling financially from the COVID-19 pandemic.
To improve coverage and affordability for seniors, the approved budget raises the income limit for New Yorkers age 65 and older and people with disabilities to 138% of the federal poverty line, raises the income limit for the Medicare savings program, and expands coverage for people Undocumented people over 65.
New York State is committed to addressing structural and institutional health care inequalities to create a safer birthing experience for all mothers and families across the state, including those who are undocumented. The budget will include over $20 million in annual investments aimed at expanding access to holistic prenatal and postnatal care to reduce racial inequalities and make quality care accessible to all mothers. The state will expand postpartum coverage for all those eligible for Medicaid during pregnancy from 60 days to a year after They give birth, leading to more equitable health outcomes across the state.