The following are the amounts budgeted by the city for health insursance and welfare benefits in FY-2021 and FY-2022:
| Description | FY-2021 | FY-2022 | Inr/Dcr |
|---|---|---|---|
| Employee Health Insurance | $4.822B | $5.188B | $366.8M |
| Retiree Health Insuranve | $2.773B | $2.142B | ($630.9M) |
| Employee Welfare Funds | $899.8M | $1,161.5M | $261.8M |
| Retiree Welfare Funds | $351.6M | $491.9M | $140.3M |
It is clear from the chart above that via the Medicare Advantage scam the City was able to take $630M from the retirees health insurance benefits and increase payment to workers health insurance payments ($366M), and most importantly to funnel more into the union welfare funds, ($391M). The actual annual savings, however, is only $367M based of the fact that only 157,500 retirees are covered by GHI Senior Care, the target of the forced transfer.
UFT and DC-37 and the Welfare funds
As stated in the latest audit (October, 2020) from the Comptroller, the City gave over $368.0M to the UFT welfare fund and $288.1M to the DC-37 welfare fund in 2018. Click on the Comptroller's audit from the Comptroller. The total amount paid to all welfare funds for 2018 was $1.37B to 107 city unions of which over $113.5M was spent on administration.
The NYCERS Actuary's FY-2021 OPEB Report provides extensive information on non-pension benefits paid to retirees. In particular, see page 140.
Federal Subsidy for 2022
Note: As part of the ARP Act of 2021, the federal government gave the city $1.024B towards employees health insurance costs (ARP Act - 2021)
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