Heard on the radio this AM that Illinois is something like 1.4B dollars over cost on projected medicaid spending. New applicants were supposed to be 25% LESS expensive then existing applicants and it turned out they are 30% MORE expensive. On top of that they have surpassed the even the highest projected number of signs, not by a little, but by something like 75%.
So I started looking around and found THIS, couple excerpts.
n Medicaid expansion states actual enrollment exceeded potential enrollment by as little as 24% (HI) to as much as 596% (VT)
“Medicaid expenditures are estimated to have increased 12.1 percent to $554.3 billion in 2015. Because the Federal government paid for 100 percent of the costs of newly eligible enrollees and the number of these enrollees doubled in 2015, the Federal share of all Medicaid expenditures is estimated to have increased to 63 percent in 2015 (from 61 percent in 2014), and Federal expenditures are estimated to have grown 16.2 percent to $347.5 billion.
We are expected to spend ~550B on national defense in 2016. Federal Medicaid spending is going to be ~62% of that and total spending will be equal to national defense.
Under Obamacare, Medi-Cal Ballooned to Cover 1 in 3 Californians. “The state’s health plan for the poor, known as Medi-Cal, now covers 12.7 million people, 1 of every 3 Californians. If Medi-Cal were a state of its own, it would be the nation’s seventh-biggest by population; its $91-billion budget would be the country’s fourth-largest, trailing only those of California, New York and Texas…’
In 2014, the average benefit costs of newly eligible adult enrollees are estimated to have been greater than those for non-newly eligible adult enrollees in the program. Newly eligible adults are estimated to have had average benefit costs of $5,488 in 2014, 12 percent greater than non-newly eligible adults’ average benefit costs, which are estimated to have been $4,914.
I'm really not sure how anyone can look at the trends and numbers and think for a second that the path we are on is sustainable. For those proclaiming "We need a public option"...this is it, this is the public option and it's breaking the bank.
~Matt
So I started looking around and found THIS, couple excerpts.
n Medicaid expansion states actual enrollment exceeded potential enrollment by as little as 24% (HI) to as much as 596% (VT)
“Medicaid expenditures are estimated to have increased 12.1 percent to $554.3 billion in 2015. Because the Federal government paid for 100 percent of the costs of newly eligible enrollees and the number of these enrollees doubled in 2015, the Federal share of all Medicaid expenditures is estimated to have increased to 63 percent in 2015 (from 61 percent in 2014), and Federal expenditures are estimated to have grown 16.2 percent to $347.5 billion.
We are expected to spend ~550B on national defense in 2016. Federal Medicaid spending is going to be ~62% of that and total spending will be equal to national defense.
Under Obamacare, Medi-Cal Ballooned to Cover 1 in 3 Californians. “The state’s health plan for the poor, known as Medi-Cal, now covers 12.7 million people, 1 of every 3 Californians. If Medi-Cal were a state of its own, it would be the nation’s seventh-biggest by population; its $91-billion budget would be the country’s fourth-largest, trailing only those of California, New York and Texas…’
In 2014, the average benefit costs of newly eligible adult enrollees are estimated to have been greater than those for non-newly eligible adult enrollees in the program. Newly eligible adults are estimated to have had average benefit costs of $5,488 in 2014, 12 percent greater than non-newly eligible adults’ average benefit costs, which are estimated to have been $4,914.
I'm really not sure how anyone can look at the trends and numbers and think for a second that the path we are on is sustainable. For those proclaiming "We need a public option"...this is it, this is the public option and it's breaking the bank.
~Matt