Michigan would face financial burden under Obamacare replacement
New data from a nonpartisan think tank says Michigan would hit a financial stumbling block if the Republican replacement for the Affordable Care Act passes.
The Center on Budget and Policy Priorities says the new health care bill would cost Michigan more than $582 million to maintain expansion in the next four years, and more than $1 billion by 2023.
Edwin Park is vice president for health policy at the CBPP. He says the federal government would pay for less than 60% of Medicaid nationwide under the new bill, as they would pay only the regular Medicaid matching rate.
"This means the states would have to pay three to five times more from their own funds for each new enrollee relative to the Affordable Care Act," Park said.
Shannon Buckingham is vice president for communications at the CBPP. She says if Michigan cuts the program because the cost is too high, the results could hurt residents.
"Even in relatively low-cost states like Michigan, a 60 year old with income at the poverty line would need to spend nearly $6,000, almost half of their income, on premiums alone," Buckingham said.
The bill is currently waiting on Senate approval.