Nixon Details Positive Fiscal Impact of Expanding Medicaid

4 years 4 months 2 weeks ago February 07, 2013 Feb 7, 2013 Thursday, February 07 2013 Thursday, February 07, 2013 11:57:00 AM CST in News
By: KOMU Staff

COLUMBIA - Gov. Jay Nixon today visited the Trulaske College of Business at the University of Missouri to discuss how his plan to bring billions of dollars back to Missouri through an expansion of Medicaid will benefit businesses, families, and the economy. In the first three years, the Governor's proposal would bring $5.7 billion to Missouri and provide health coverage to an additional 300,000 Missourians, at no cost to the state. The Governor was joined by the president of Columbia Regional Economic Development Inc., which has endorsed the Medicaid expansion.

"Right now, we have an opportunity to bring billions of dollars - dollars that already come out of Missourians' paychecks - back home to Missouri," Gov. Nixon said. "If we pass on this opportunity, that money will go to other states. They'll get the benefit, and we'll get the bill. I want to see those dollars go to work and help create jobs here in Missouri, and I'm glad that the business leaders at Columbia Regional Economic Development Inc. agree."

In addition to Columbia REDI, several other business and economic development organizations across Missouri have endorsed the Medicaid expansion, including the Missouri Chamber of Commerce; the chambers of commerce in Independence, Kansas City, Kirksville, Lee's Summit, Springfield, and St. Louis; the Civic Council of Greater Kansas City; the Associated Industries of Missouri; and Kirksville Regional Economic Development Inc.

"Here in Columbia and throughout Boone County, health care providers are a major part of our economy, employing thousands of area workers and generating significant economic activity," said Mike Brooks, president of Columbia REDI. "A recent study by the University of Missouri reports that 24,000 new jobs will be created in our state under the Governor's proposal to expand health coverage to working families. This means more doctors, nurses, specialists, EMTs, and lab techs would be living and working in our communities. This expansion is important to growing our economy, and we endorse this smart business decision for Missouri's future."

Last fall, a report by the University of Missouri demonstrated the clear economic benefit to Missouri of providing expanded health care coverage using the available federal funds. The University of Missouri report showed that the additional funding for health care will create 24,000 new jobs in Missouri in 2014 alone.

"This week, the Republican governors of Ohio and Michigan announced plans to take advantage of this opportunity to expand Medicaid in their states, joining Republican governors in Arizona, North Dakota, New Mexico and Nevada," Gov. Nixon said. "They are putting politics aside to make the right business decision for their states, and we should do the same here in Missouri."

Because federal funding will cover 100 percent of the costs for calendar years 2014, 2015 and 2016, expanding health care coverage to those 300,000 uninsured Missourians would involve no state tax dollars for those years. Some of these federal dollars will pay for coverage that is currently being paid for with state dollars. In addition, the economic benefit of expansion will generate additional state revenue. These savings and revenue are conservatively estimated to have a positive impact of $46.6 million in 2014, $125 million in 2015, and $139.6 million in 2016. Even as the federal funding match rate slightly declines to 90 percent, savings and revenue for the state budget will continue from $112.9 million 2017 to $4.3 million in 2021.

Under the proposed expansion, low-income Missourians who can't afford health insurance and earn less than 138 percent of the Federal Poverty Level would be eligible for coverage. A family of four living at 138 percent of the Federal Poverty Level in 2012 makes $31,809 a year.

Missouri hospitals are already required by law to treat people who have no health insurance. This results in the high cost of caring for the uninsured being passed along to employers and individuals who must pay higher premiums for their health insurance. If this coverage is not compensated for through an expansion of Medicaid to cover the cost of that care, hospitals will have to bear those costs or pass them onto patients with health insurance.

A recent report by the Missouri Hospital Association found that in 2011, Missouri hospitals provided $1.1 billion in uncompensated care to Missourians - a record level.

 

More News

Grid
List
COLUMBIA - As construction continues in the downtown area, workers are finding it difficult to be around. "It's making... More >>
7 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 7:57:00 PM CDT in News
COLUMBIA -The City of Columbia Public Works Department held an informal open house Tuesday, giving people a chance to ask... More >>
8 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 7:38:00 PM CDT in News
BOONE COUNTY - The Boone County Sheriff’s Department is investigating four burglaries this month in the Elm Tree area. Homes... More >>
8 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 7:13:00 PM CDT in News
JEFFERSON CITY (AP) — Th e Missouri Supreme Court says it's constitutional to commit sex offenders to secure confinement after... More >>
10 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 5:23:00 PM CDT in News
BOONE COUNTY - Sheriff's detectives arrested a 20-year-old Jefferson City woman Tuesday in connection with a shooting that wounded two... More >>
10 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 5:04:00 PM CDT in News
JEFFERSON CITY (AP) — Missouri appellate judges are reinstating descriptions of initiative petitions against right to work laws that were... More >>
10 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 4:50:02 PM CDT in News
MONETT (AP) — A substitute teacher in southwe st Missouri has been ch arged with having sexual contact with a... More >>
11 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 4:30:41 PM CDT in News
CALLAWAY COUNTY – A proposed port in Jefferson City is one step closer to becoming a reality. The Callaway... More >>
11 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 4:22:00 PM CDT in News
JEFFERSON CITY - NAACP supporters rallied at the state Capitol to ask Missouri Gov. Eric Greitens not to sign the... More >>
11 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 3:58:00 PM CDT in News
COLUMBIA - The Missouri Foundation for Health has awarded $700,000 toward the planning, construction and programming of the planned agriculture... More >>
12 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 3:30:00 PM CDT in News
VERSAILLES (AP) — The Missouri state trooper who had a man die while in his custody pleaded guilty Tuesday to... More >>
13 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 2:41:00 PM CDT in News
JEFFERSON CITY (AP) — Missouri senators won't reconvene until at least after the July 4 holiday to consider legislation on... More >>
13 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 2:08:26 PM CDT in News
CALLAWAY COUNTY — A manhunt for a suspicious person call ended in an arrest just east of Kingdom City. ... More >>
14 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 1:22:00 PM CDT in News
COLUMBIA — Columbia Police officers arrested Joshua Michael McWilliams, 23, of Columbia in reference to Monday night's shots fired call.... More >>
14 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 12:49:00 PM CDT in News
COLUMBIA - Have you heard the news? A total solar eclipse is heading to mid-Missouri! Join KOMU 8 as we... More >>
15 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 12:19:00 PM CDT in Eclipse Science
CAMDENTON — Since the start of 2017, the Camden County Sheriff's office reports more than $45,000 worth of roadway signs... More >>
17 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 9:51:00 AM CDT in News
HOUSTON (AP) — Authorities are searching for a southern Missouri inmate who is accused of overpowering a guard and stealing... More >>
18 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 9:25:05 AM CDT in News
ST. LOUIS (AP) — A judge is upholding a policy barring St. Louis Zoo visitors from entering the site with... More >>
19 hours ago June 27, 2017 Jun 27, 2017 Tuesday, June 27 2017 Tuesday, June 27, 2017 8:10:00 AM CDT in News
Columbia, MO
Broken Clouds 68°
4am 67°
5am 67°
6am 67°
7am 69°

Select a station to view its upcoming schedule:

Coming Up Next

3:00a
Mad Money
4:00a
Early Today
4:30a
KOMU 8 News Today
3:30a
Paid Program
4:00a
Paid Program
4:30a
Paid Program

Tonight's Schedule

7:00p
Little Big Shots: Forever Young
8:00p
The Carmichael Show
8:30p
The Carmichael Show
9:00p
This Is Us
7:00p
Arrow
8:00p
DC's Legends of Tomorrow
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld