Governor Kathy Hochul unveiled three key policy initiatives aimed at addressing New York’s affordability crisis, including a statewide minimum wage increase, the nation’s first paid prenatal leave law, and the elimination of insulin co-pays for state-regulated insurance plans.
“Starting this week, tens of thousands of New Yorkers, from home health care aides to hourly restaurant workers and countless others who do not have a salary they can count on, will no longer have to make the impossible choice between losing money in their paycheck and getting prenatal care for their babies,” Hochul said.
The Governor highlighted the immediate impact of these measures, emphasizing their combined financial relief for working families.
The minimum wage has increased to $16.50 per hour in New York City, Long Island, and Westchester, and $15.50 per hour across the rest of the state. Hochul noted that full-time minimum-wage workers can expect an extra $1,000 annually, with wages set to adjust automatically for inflation in subsequent years.
Additionally, New York became the first state in the nation to guarantee paid leave specifically for prenatal care. Under the new policy, expectant mothers can take up to 20 hours of paid leave during pregnancy, ensuring they do not have to forgo essential medical appointments due to financial concerns. This measure is expected to put an estimated $560 back into the pockets of pregnant workers.
For New Yorkers reliant on insulin, the state has eliminated co-pays for those covered by state-regulated health insurance plans. Hochul highlighted the burden insulin costs place on families and praised the measure as both a financial and public health win. This change is projected to save individuals up to $1,200 annually.
Governor Hochul illustrated the cumulative benefits of these reforms, pointing out that an expectant mother earning minimum wage and managing diabetes could save approximately $2,700 per year under the new policies.
“When times are tough, we listen. We hear you loud and clear,” Hochul said. “Your elected leaders are delivering real solutions that make a difference. And we’re just getting started.”
Looking ahead, Hochul previewed her administration’s continued focus on affordability in the upcoming State of the State address, including a proposed $500 inflation refund for families earning less than $300,000 annually.
“These initiatives are just the beginning,” Hochul concluded. “When hardworking New Yorkers get ahead, we all get ahead. That’s how we succeed as a state.”
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