Health Insurance

The Obama federal-state Medicaid insurance program bears substantial financial implications. For instance, Resenbaum (2010) indicates that contrary to the current situation where the federal government is responsible for covering 50-83 percent of medical expenditures incurred by new entrants into Medicaid, the federal government will pay for all the expenses from 2014-2016. By 2020, the federal government will reduce its spending to 90 percent with the state government taking up the 10 percent expenditure.

The expanded Medicaid insurance program is expected to incur the federal government an approximated $434 billion over a period of 10 years after its implementation. Since the states have been mandated to offer Medicaid programs and share in the costs thereof, the financial implications to states have brought outcries. For instance, Minnesota estimates that it would spend up to $430 million as from 2010 to 2012 in its endeavor to enroll new beneficiaries prior to 2014 as per the bill’s provisions (Reuters, 2010).

In fact the challenge of implementing the proposal is seen as lying with the states rather than the federal government and the cost of implementing the program is the main point of contention in the states. Resenbaum (2010, pp. 1953) also indicates that the law “increases state Medicaid payments to the same level as the Medicare payments for primary services furnished by physicians with primary specialty designations.

” These include primary services provided by pediatricians, and family doctors. Indiana is also citing difficulties in financing expended Medicaid program even with the federal government’s initiative to cover most of the initial costs. Indiana’s state budget is expected to be overburdened if it is to bear the responsibility of financing expanded Medicaid program since the program would lead to an increase of about 500,000 new enrollees.

In particular, an estimated $1 billion will be spent by Indiana government to finance an increase in the number of Medicaid providers (Health Insurance, 2010). In conclusion, the expansion of federal-state Medicaid program to cover pregnant women, children and persons in the bracket of 133% federal poverty level is a great step in enhancing health care in America. The Obama’s proposal will ensure wide health insurance coverage and benefit small businesses and families in terms of buying affordable insurance cover.

However, it must be noted that the joint federal-state program will cost the wealthy more as they will be subjected to higher taxes. In addition, states will bear a higher financial responsibility in implementing the program despite the federal government catering for initial costs. Overall, the state-federal Medicaid insurance program will cost the federal government a substantial amount more so in the first 10 years of implementation.
References

Health Insurance. (2010). Daniels says Indiana can’t afford to expand Medicaid. Retrieved 6, Aug. 2010 from http://www. articleco. com/Article/Daniels-says-Indiana-can-t-afford-to-expand-Medicaid/213633 Reuters. (2010, June 22). Minnesota won’t expand Medicaid coverage until 2014. Retrieved 6, August. 2010 from http://www. reuters. com/article/idUSTRE65L5JQ20100622 Rosenbaum, S. (2010). A “customary and necessary” program — Medicaid and health care reform. N Engl J Med, 362(21): 1952-1954.

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