even if you hate Obamacare.
Expanding Georgia’s massive Medicaid health care program would cost the state roughly $2.5 billion over a decade, while providing half a million poor, uninsured Georgians with coverage, a new study estimates.
from the AJC
So, we pay 2.5 billion over ten years, and we insure many of our poorest families. That sounds like a good idea, if you support the basic premise of Obamacare (universal health care). But what if you don’t?
Under a Medicaid expansion — a pillar of the Affordable Care Act — the federal government would pay 100 percent of the costs for newly eligible enrollees the first few years, though that would later fall to 90 percent. The result: more than $33 billion in new federal money would flood into Georgia over a 10-year period, according to the study released Monday by the nonprofit Kaiser Family Foundation.
$33 billion puts a lot of money back into our hospitals and health care networks, which provides them the ability to improve care and increase specialization. Which means if you or a loved one gets cancer, you won’t have to consider moving to Houston.
And it will allow Georgia to save $726 million in uncompensated care – money it is paying anyway when people show up to the emergency room. So that $2.5B, it’s really closer to 1.8B. Oh, and that $33 billion? Yeah, we already pay that in terms of higher premium costs on health insurance, since hospitals and doctors bill at a higher rate to cover their losses on the uninsured. So you can expect health insurance premiums to decrease, rather than going up and up and up.
So, here’s the math problem, how can $18 net you $330? Accepting the expansion is the right answer for Georgia.