Colorado Medicaid expansion would create 22,000 jobs, study says

Expanding Medicaid coverage to federally recommended levels would create more than 22,000 new jobs in Colorado and give a $4.4 billion boost to the state?s economy within the next 13 years, according to a study released Wednesday by the Colorado Health Foundation (CHF).

Such an expansion, which would add roughly 275,000 state residents to the publicly funded health insurance plan, also would generate more in indirect tax revenues and savings in other areas of the state budget than it would cost the state?s general fund, said officials from Charlie Brown Consulting Inc. of Denver, which conducted the study.

> Download an executive summary of the study here.

?The impact is a positive one ? both now, and it?s also positive well into the future,? said Anne Warhover, CEO of CHF.

A number of organizations have examined the cost to Colorado if it chooses to allow anyone making 138 percent of federal poverty level or less in annual income to be eligible for Medicaid beginning in 2014, as President Barack Obama has recommended.

The CHF study is the first to look at the bigger-picture effect on Colorado?s economy.

Most of the 22,388 new jobs would deal either with patient care ? such as by doctors or hospital workers ? or in fields such as pharmaceuticals and medical equipment, whose products would be in greater demand by health-care providers.

Because the expansion of insured patients would occur immediately, 14,357 of those jobs would be created by mid-2015, adding 20 percent more jobs to the economy than would be created without such an expansion, said Dr. Phyllis Resnick, an independent economic consultant who worked on the study.

Ed Sealover covers government, health care, tourism, airlines and hospitality for the Denver Business Journal and writes for the "Capitol Business" blog. Phone: 303-803-9229.

Source: http://feedproxy.google.com/~r/vertical_32/~3/jlaLpnabHy0/colorado-medicaid-expansion-would.html

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