A new report by the Empire Center for New York State Policy estimates that New York state cities, counties and authorities owe more than $200 billion in health care benefits to retirees, but have no way or plan to pay for it. Unlike pension costs and payments which are reported, health care costs have a murkier role. The Empire Center estimates that each resident of New York City owes around $7,343 for retired city workers, and every person in New York State owes around $3,082. The report found the numbers through local government reports, audited financial statements and bond offering statements. There is a way for the state to step up to help cities who cannot pay, trough the Financial Emergency Act. The report does not suggest that all of the money will be needed immediately.
See "N.Y. Faces $200 Billion in Retiree Health Costs", Mary Williams Walsh, The New York Times, October 12, 2010