According to a new report, expanding Medicaid eligibility in states that have not already done so would lead to 4.5 million fewer people uninsured and an increase in enrollment for the Medicaid program by 6.7 million in the year 2022. Researchers at the MIlken Institute collaborated with the Commonwealth Fund on the study and reported that the remaining 14 states who have not expanded could revive its state economies and create more than one million new jobs in addition to helping millions of low-income Americans get health insurance.
As of May, 14 states — Alabama, Florida, Georgie, Kansas, Mississippi, Missouri, North Carolina, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Wisconsin, and Wyoming — have still chosen not to expand the Medicaid program. There are benefits for the states who move forward with the Medicaid expansion:
Like stated above, expanding Medicaid in the 14 states would produce more than one million new jobs in 2022. Although much of the national employment growth would be in health care, more than half would occur in places such as construction, retail, finance, insurance, and other industries.
Health Insurance Gains
Expanding Medicaid would increase federal revenue to the 14 states by $49 billion in 2022 and would then lead to higher state and local tax revenues. The additional federal Medicaid revenue stimulates economic activity and therefore leads to higher state and local tax revenues.
Has Florida adopted the Medicaid Expansion?
As of right now, unfortunately not. Although other states have overcome political opposition to Medicaid expansion and adopted the plan to bring government-subsidized coverage to more of their low-income residents, Florida is one of the 14 states that still have not adopted the plan.
Low-income residents have found out the hard way that there isn’t a substitute for insurance. Thankfully, we can help! Don’t fall into the “coverage gap”, where you earn too much to receive Medicaid, but not enough to qualify for subsidies to buy a plan through the marketplace. We can get you the right plan for the best price and make sure you’re taken care of. There’s a reason why we’re considered the number one health insurance agency in Coral Springs and Parkland — because we care, ALOT!