Capital New York:
The city’s Health and Hospitals Corporation is facing a $430 million budget gap for fiscal year 2015, its president told the City Council’s health committee on Monday.
That gap is expected to triple to nearly $1.4 billion by 2018, said H.H.C. president Alan Aviles, who will soon be leaving the nation’s largest municipal hospital system.
The deficits can be attributed to damage from Hurricane Sandy as well as skyrocketing pension costs, but the most basic challenge is that H.H.C. treats hundreds of thousands of patients who can’t pay for the full costs of their care.
H.H.C. provides about $700 million in uncompensated care each year, and 80 percent of its patients are either on Medicaid or uninsured.