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The Economic Case for Medicaid
Kathleen (Kat) Stoll WV Together for Medicaid September 25, 2017
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WV Medicaid Today 650,000 + enrollees 1/3 of total WV population
76% of WV kids in 2016 60% of births 39,000 seniors 130,000 blind and disabled 75% of nursing home & long-term care 45% of DRT for opioid addiction “critical tool in addiction crisis fight” Dr. Richard Frank Uninsured rate 14% in 2013 has shrunk to 5.3% in 2016
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Medicaid: Strong Economic Stimulus
Macro- economic benefits – good for the state economy Micro-economic benefits – financial stability for WV individuals & families
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Medicaid: Benefits ALL West Virginians
Macro: Creates economic stimulus & jobs as new federal dollars flow through community Supports local hospitals and health centers Saves state dollars in other state programs & services – primary payer for substance abuse treatment Micro: Workers in small business have health coverage Increases WV family’s financial stability
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Why was astrology invented?
So economics would seem like an accurate science.
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Medicaid: Good for WV Economy
Medicaid total budget: $3 billion federal/$1 billion state dollars $3 billion new fed dollars per year generates significant jobs & business activity Sense of magnitude: Medicaid expansion repeal only: 10,600 jobs lost (4,700 in health care) by 2019 $10.19 billion business output lost $220 million state & local taxes Commonwealth Fund, 2017 using REMI macro-economic model See:
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Medicaid: Lifeline for Rural Providers
Rural hospitals financial status improved in Medicaid expansion states: uncompensated care costs fell 43% Medicaid revenue as a share of total hospital revenue rose 33% operating margins increased by 4 percentage points (difference between total revenues & operating costs) See
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After the ACA, uncompensated care costs in West Virginia’s rural hospitals went down almost across the board. In fact, uncompensated care costs halved from almost $85 million in 2013 to about $43 million in 2015. “So we saw that those patients that didn’t have insurance, had insurance and so that was a really good thing for us and for a lot of the rural hospitals or any of the hospitals in West Virginia,” said Skip Gjolberg, CEO of St. Joseph’s hospital in Upshur County. WV Public Broadcasting March 24, 2017
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Medicaid: Financial Stability for West Virginians
Federal Reserve Bank of Chicago & Federal Reserve Bank of New York studies quantify positive impact Medicaid expansion associated with significant reduction in people’s unpaid bills of all types, amount of debt sent to collection agencies, & credit card debt 10 percentage point increase in Medicaid eligibility reduces personal bankruptcies by 8 percent Medicaid covered families 40% less likely to borrow money or skip paying bills to cover medical expenses See:
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katdstoll@gmail.com 304-258-3118 Kat Consulting
Kathleen (Kat) Stoll Kat Consulting
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