Post by Logan on Feb 5, 2016 20:15:09 GMT -6
Beyond the arguments for enacting fair, compassionate public policy, the financial case for expanding Medicaid in Idaho has been lower costs. In late 2014, an actuarial firm hired by the state put the 10-year savings of expansion to state and local governments at $173.4 million.
But in the firm’s latest projections, issued last month, those projected savings have evaporated, and what were savings are now costs — to the tune of $186.9 million.
The dramatic $360 million swing comes largely due to the state’s decision to forgo expansion and miss out on the early years of the program, which promised the largest savings. The new projections also extend one year further, where costs are higher; factor in new census data that adds potentially 15,000 more people to be covered; and uses higher insurance rates for its calculations.
The shift also reflects the success of the state health exchange created under the federal Affordable Care Act: With more Idahoans now insured, fewer are ending up in need of indigent assistance due to high medical bills, so state and county costs of covering those expenses have dropped, as have future projections. This year, in fact, the state will shift nearly $29 million from the state Catastrophic Health Care fund back into the general fund, because costs are lower.
Read more here: www.idahostatesman.com/news/politics-government/state-politics/article58575953.html
But in the firm’s latest projections, issued last month, those projected savings have evaporated, and what were savings are now costs — to the tune of $186.9 million.
The dramatic $360 million swing comes largely due to the state’s decision to forgo expansion and miss out on the early years of the program, which promised the largest savings. The new projections also extend one year further, where costs are higher; factor in new census data that adds potentially 15,000 more people to be covered; and uses higher insurance rates for its calculations.
The shift also reflects the success of the state health exchange created under the federal Affordable Care Act: With more Idahoans now insured, fewer are ending up in need of indigent assistance due to high medical bills, so state and county costs of covering those expenses have dropped, as have future projections. This year, in fact, the state will shift nearly $29 million from the state Catastrophic Health Care fund back into the general fund, because costs are lower.
Read more here: www.idahostatesman.com/news/politics-government/state-politics/article58575953.html