Shutdown showdown: Can New York's Essential Plan absorb the costs of expiring tax credits?

ALBANY, N.Y. (NEXSTAR) — Health insurance costs for millions of New Yorkers are at the center of the federal government shutdown that began on October 1 after Congress failed to pass a spending bill. Democrats in the shutdown fight say expiring subsidies for the Affordable Care Act represent a health care crisis for 20 million Americans, while Republicans blame Democrats for wanting undocumented immigrants to have free health.

Democratic Governor Kathy Hochul warned that New Yorkers would see their premiums skyrocket. In contrast, Republican Congressmember Elise Stefanik called the shutdown concocted and said ACA funding was unrelated.

The ACA's premium tax credits help people with lower incomes buy insurance through an insurance exchange like New York State of Health. The original credi