Medicaid Cheaper to Grow in Colorado, Study Says
By expanding its Medicaid program with federal funding, Colorado could save $133.8 million by 2025 it would have spent with its current setup, according to a study funded by the Colorado Health Foundation.
Under the Patient Protection and Affordable Care Act, the federal government would fully fund any state's expansion of the Medicaid program for three years to residents earning up to 138 percent of the federal poverty line or less, then continue to fund 90 percent of the costs after that.
In Colorado, that would add 275,000 new people to the program, reducing the state's uninsured population by 189,000, down from 11.1 percent to 7.7 percent, according to the report. Even without the expansion, Medicaid enrollment is expected to grow as individuals looking to buy health insurance on the online exchanges find they are eligible for state-sponsored coverage, and as employers make changes to workers' hours and status to skirt expensive health benefit mandates.
Colorado's overall economy would see a GDP growth of 0.74 percent and 22,388 jobs by 2025 with the expansion, according to the study.
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