The HUGE Quandary of Medicaid’s Future
I am pro-Medicaid. Our country needs it. Providers do a great service by helping Medicaid recipients. However, with the overwhelming deficit we have created, change to Medicaid is coming…good or bad. It has to. And I am also anti-deficit. So which presidential candidate will revamp Medicaid for the better? Well, it depends how you look at it.
With Romney, he will repeal Obamacare. Repealing the health care reform law would reduce Medicaid spending by $618 billion over the next 10 years, according to the Center on Budget and Policy Priorities and Romney’s additional cuts would mean a total of at least $1.4 trillion in cuts over a decade. Under Romney’s block grant proposal, between 14 million and 27 million fewer people would be covered in 2021 than under Medicaid as it currently exists, according to an Urban Institute analysis. With less money, states are certain to reduce benefits and ask recipients to pay more for care, among other changes.
With Obama,starting in 2014, Medicaid coverage will be expanded to everyone with incomes less than 133 percent of the federal poverty level, which today is nearly $31,000 for a family of three. The federal government pays the full cost for those newly eligible for Medicaid from 2014 to 2016, then states have to begin to contribute to the cost but no more than 10 percent by 2020.
Clearly, the summary is that Romney will reduce Medicaid and save trillions of dollars; Obama will expand Medicaid and increase spending by trillions of dollars.
Which is better? Depends on whether the deficit or Medicaid is more important to you.