Medicaid spending to double in next decade
Hospitalist Leadership Connection, October 21, 2008
The government will spend nearly double on Medicaid annual payments over the next 10 years, according to projected reports from Centers for Medicare & Medicaid Services (CMS). CMS submitted the report, “Medicaid Actuarial Report on the Financial Outlook for Medicaid,” to Michael O. Leavitt, Secretary of Health and Human Services, last Friday.
Expenditures for medical assistance payments in federal and state spending will soar to $673.7 billion by fiscal year 2017, up from $339 billion this year. The average Medicaid enrollment will also reach 50 million people this year and 55.1 million by 2017.
Medicaid provides healthcare assistance to low-income populations and is one of the largest payers of healthcare in the nation.
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