Reducing our current bloated insurance bureaucracy will inevitably lead to some job loss. However, the adoption of a single-payer system is expected to lead to the creation of many new jobs in other industries throughout the state. Once employers are freed from the burden of buying private insurance for their workers, they will have much more money to invest in their business and hire more workers.
By the same logic, single payer will also make it much easier for freelancers and entrepreneurs to start and expand their businesses. Finally, with a single-payer plan, unemployed New Yorkers will no longer have to worry about how to pay for healthcare as they will be automatically covered by the statewide plan regardless of work status (even those who worked for health insurers).
For those who currently work for private insurance companies, or in the billing department for providers, there is funding in the bill to support their transition to new employment. Some will transition to work in the new system, and others may take on roles for care coordination or healthcare delivery. The economic impact study performed in 2015 estimated that over 70% of the displaced workers will have new jobs within six months. By the end of the second year, over 99% of the displaced workers will have found new employment. While this may present individual challenges, advocates prioritize a just transition to meaningful and well-compensated work in the new system.
For more information on a just transition for workers, see our fact sheet here.