Obamacare Is Expected To Increase Colorado’s Medicaid Expenses By 44.2%

The Office of the Actuary at the Centers for Medicare and Medicaid Services has updated its health spending projections to incorporate changes imposed by the mis-named Patient Protection and Affordable Care Act, better known as Obamacare.  The Actuary projects that state and local spending on Medicaid will increase 41.4 percent between 2010 and 2011 overall, with an expected increase of 44.2% in Colorado. 

Among other nuggets, we find that healthcare expenditures as a percent of GDP are projected to increase from 16.2% in 2008 to 19.6% in 2019, and per capita healthcare expenditures are projected to increase from $7,681 in 2008 to $13,653 in 2019.

Moreover, out of pocket spending by patients will briefly decline slightly before skyrocketing:

In 2014, out-of-pocket (OOP) spending is projected to decline by 1.1 percent as the major provisions of the Affordable Care Act are implemented and millions of people, many of whom were previously uninsured, attain health coverage through Medicaid or the Health Insurance Exchanges. Prior to passage of the Affordable Care Act, OOP spending growth was expected to be 6.4 percent.

By 2018, OOP spending growth is expected to accelerate to 9.6 percent, about 4 percentage points higher than that expected before reform was passed. The relatively higher growth in OOP expenditures in 2018 reflects greater cost-sharing as employers are expected to scale back the generosity of the coverage they offer to minimize their exposure to the excise tax applicable to high-cost insurance plans.

Let us not forget who we have to thank for this impending avalanche of spending we cannot afford — Michael Bennet, Betsy Markey, Ed Perlmutter, and the other big-spending (with your money) Democrats in Congress.

Via The Foundry Blog, which I can’t get to link at the moment.

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Published in: on September 13, 2010 at 2:40 pm  Leave a Comment  

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