The healthcare reform bill passed last year will cost states at least an additional $118.04 billion through 2023 due to their increased Medicaid costs, according to a new congressional report.
That’s nearly double the Congressional Budget Office's recent estimate of $60 billion through 2021.
“The enactment of the Patient Protection and Affordable Care Act in March 2010 was the largest expansion of [Medicaid] since its inception more than 45 years ago,” according to a statement from the House Energy and Commerce Committee and the Senate Finance Committee, which jointly produced the report.
“Half of those obtaining healthcare coverage under the new law will get it through Medicaid. The committee report provides a state-by-state analysis of the financial impact the new healthcare law will have on states and demonstrates the unsustainable fiscal burden this new law will foist upon taxpayers.”
The joint congressional report “is the first to provide a comprehensive overview of state government estimates regarding the cost of the Patient Protection and Affordable Care Act to state Medicaid programs,” the report states.
Sen. Orrin Hatch of Utah, the ranking Republican on the Senate Finance Committee, said: “Governors of both political parties were clear when Congress was debating the $2.6 trillion health law that they could not afford a massive expansion in Medicaid. Washington didn’t listen and plowed forward instead by putting 16 million Americans onto the Medicaid rolls to keep the federal price tag down.
“With this report, we see the true cost to states, who are already facing a collective $175 billion budget shortfall, of this unsustainable expansion.”
The report’s state-by-state breakdown shows that California will spend at least another $19.4 billion on Medicaid, and Texas will be forced to spend another $27 billion — more than the program’s entire annual budget today.
Obamacare will cost Florida taxpayers $12.9 billion through 2023. Louisiana will have to pay an additional $7 billion; New York, 2.8 billion; and Virginia, $2.2 billion.
Even a less populated state, Iowa, will have to take on 100,000 new Medicaid enrollees, and spend an added $250 million.
ALERT: Inflation Super Cycle Unstoppable. How to Prepare.
Another high quality and unbiased report Doug
http://success-by-design.blogspot.com/2 … llion.html
I think it ws, World News. Sory, forgot to put the link. my fault.
If medicare fraud is stopped there won't be a lost, health care needs reform and to be regulated. That's the truth and nothing but the truth, it's the undeniable truth. Go ahead and deny it with reason if you can.
FORT MYERS (2010-6-18) -Whistleblowers Say Rick Scott Knew About Medicare Fraud
Posted Fri, Jun 18, 2010 at 12:06 pm By John Davis, WGCU
Two whistleblowers say the new front-runner in the Republican race for governor is lying when he says he did not know about fraud in his former company, the Columbia/ HCA hospital chain. In July 1997, FBI agents raided Columbia/HCA accounting offices in seven states, including Florida. Within days, Columbia’s board of directors ousted Scott, but gave him a nearly $10 million severance package, including stock shares worth $300 million and a $1 million a year consulting contract.
The company wound up paying more than $1.7 billion for defrauding the federal Medicare and Medicaid programs."
http://www.wusf.usf.edu/news/2010/06/18 … care_fraud
This criminal is the governor of Florida.
Florida is not the only state lead by unconvicted criminals
So it will cost about 1/8th of the annual defense budget, or about 30 days of war in Afganistan and Iraq, or about 1/10 the size of Bush led TARP program, or about 1/3 the size of the recent QEII program or about the same as Wall Street 2010 bonus program or about the same as as the money funneled to the Mubarak regime over the last 30 years.
OLY, give it a rest trying to demonize Obama. His contribution to the mess in the U.S. is about 5%.
OK, Im catching a little flack on were I get my info, so, your sorse is, what link.
Source is my head and what is absorbs. You can look up the numbers to verify:
- U.S. annual defense budget - over 700 billion annually
- Wall Street 2010 bonus program - 144 billion
- QEII - 600 billion
- Original TARP program - 700 billion, more added later
- Iraq & Afghanistan Wars - 6 billion per month (not covered under annual defense budget)
- Propping dictator regimes + Israel - at least 5 billion per year, probably more
Did you take into consideration that the estimate of 118 billion is "through 2023" or over a ten year period?
by My Esoteric2 years ago
When the Robert's Court, while upholding the most important part of Obamacare, struck down the the penalty to any State not buying into the expanded Medicaid program, they condemned millions of somewhat poor Americans...
by My Esoteric23 months ago
... are trying to encourage those who fall in the Medicaid gap they created to move out of their State? Hospitals in those States are reporting increased unpaid (meaning you paid) emergency room visits from this...
by Stacie L4 years ago
Obamacare will save Medicare $200 billion by 2016by Joan McCarterFollow The Centers for Medicare & Medicaid Services actuary reports: "We have achieved significant tangible savings that have been...
by Mike Russo3 years ago
How is your state doing with Obama Care State Exchanges? Read this article about how the California State Exchange is going to help lower premium costs.http://thinkprogress.org/health/2013/05 … ng-points/
by American View5 years ago
I cannot wait to hear the responses on this one. A day after Obama was threatening how he will not pay the armed services, not pay Social Security, not fund Medicare, and more. "we do not have the money to pay...
by Susan Reid2 years ago
If you are insured through your employer, the answer is no. If you are an individual or small business owner, please share your thoughts.Did you know there will be online health care insurance marketplaces...
Copyright © 2016 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.