Thursday, March 10, 2016

Medicaid expansion benefits Colorado economy

A new report on Medicaid expansion in Colorado reveals that, in the two years since implementation, expansion in the state has and will continue to have a significant positive effect on the economy, at no expense to the General Fund. According to the independent analysis, "Assessing the Economic and Budgetary Impact of Medicaid Expansion in Colorado: FY 2015-16 through FY 2034-35," Colorado has added 31,074 jobs, increased economic activity by $3.8 billion and raised annual household earnings by $643 as a result of state Medicaid expansion under the Affordable Care Act. By fiscal year 2034-2035, Colorado is projected to add a total of 43,018 new jobs, increase economic activity by $8.5 billion and raise average annual household earnings by $1,033.

Commissioned by the Colorado Health Foundation and prepared by the Colorado Futures Center at Colorado State University, the report updates a 2013 analysis of the estimated economic and budgetary impact of Medicaid expansion. The executive summary and infographic provide additional detail. A full report is slated for release this spring.

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