States' economic pressures intensified by Medicaid
Case Management Weekly, December 11, 2007
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A new report released by the National Governors Association and the National Association of State Budget Officers highlights rising healthcare costs as a main reason for states' economic downturn. A significant estimated increase in Medicaid spending from 1.7% in fiscal year 2006 to 7.3% in fiscal year 2007 threatens state budgets nationwide primarily due to the provision of prescription drug benefits to beneficiaries who are dually eligible for Medicare and Medicaid.
According to the report, one-third of states' budgets are reserved for healthcare costs and Medicare costs account for 22% of the total budget. The rise of the elderly population and number of uninsured are also adding to the economic pressures states currently face.
Sources: California Healthline, AP/Asbury Park Press
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