A new report from the Urban Institute and Robert Wood Johnson Foundation finds that the 24 GOP-led states that declined to expand Medicaid coverage under Obamacare are not only denying healthcare to 6.7 million people who will remain uninsured, they’re also passing up $423.6 billion in federal funds between 2013 and 2022.
In effect, they’re shooting themselves in the foot while doing their citizens a disservice, just to spite the President.
Hospitals in those states will be losing $167.8 in Medicaid funds that were intended, when the law was crafted, to offset the lower rates of Medicare and Medicaid reimbursements.
These losses not only affect the working poor, they affect the budgets and the entire economy of those states, since that $423.6 billion would go directly into the states’ economies creating jobs and generating tax revenues.
The two states that stand to lose the most are Texas and Florida, at $65.6 billion and $66.1 billion respectively. These states have high populations, but even states with smaller numbers of people stand to lose substantial amounts of money, South Dakota, for example stands to rack up $2.1 billion in losses, and Nebraska and Maine are flushing over $3 billion each down the drain.
The researchers found that for every dollar that Medicaid expansion would have cost these states they would have received more than $13 from the federal government, money which would have boosted their states’ economies by an estimated 170,400 in 2015 alone. This, in addition to the benefits that come from a healthier population.
Jonathon Cohn has created an interactive map using the data in the report showing how much money these Republican legislatures and Governors are throwing away just to thumb their noses at President Obama that you can find here.
Chart reveals how much Medicaid funding GOP states are losing.
h/t: Daily Kos