Obamacare Will Cost States $118 Billion

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  1. OLYHOOCH profile image61
    OLYHOOCHposted 7 years ago

    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.

    Editor's Note:

    ALERT: Inflation Super Cycle Unstoppable. How to Prepare.

    1. Doug Hughes profile image58
      Doug Hughesposted 7 years agoin reply to this

      Source, Oly.

      1. John Holden profile image59
        John Holdenposted 7 years agoin reply to this

        Another high quality and unbiased report Doug

        http://success-by-design.blogspot.com/2 … llion.html

        1. OLYHOOCH profile image61
          OLYHOOCHposted 7 years agoin reply to this

          I like your figure better

          OY

      2. OLYHOOCH profile image61
        OLYHOOCHposted 7 years agoin reply to this

        I think it ws, World News. Sory, forgot to put the link. my fault.

        OLY

        1. OLYHOOCH profile image61
          OLYHOOCHposted 7 years agoin reply to this
    2. junko profile image77
      junkoposted 7 years agoin reply to this

      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.

      1. Doug Hughes profile image58
        Doug Hughesposted 7 years agoin reply to this

        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.

        1. junko profile image77
          junkoposted 7 years agoin reply to this

          Florida is not the only state lead by unconvicted criminals

          1. canadawest99 profile image59
            canadawest99posted 7 years agoin reply to this

            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%.

            1. OLYHOOCH profile image61
              OLYHOOCHposted 7 years agoin reply to this

              OK, Im catching a little flack on were I get my info, so, your sorse is, what link.

              OLY

              1. canadawest99 profile image59
                canadawest99posted 7 years agoin reply to this

                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

            2. Doug Hughes profile image58
              Doug Hughesposted 7 years agoin reply to this

              Did you take into consideration that the estimate of 118 billion is "through 2023" or over a ten year period?

 
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