Press release from Healthy Tennessee Economy; March 21, 2013:
Thursday, March 21, 2013 – Three more independent studies released in just one week continue to reinforce the calls from the state’s business community to put politics aside when making the decision on Medicaid expansion.
“Another day, another independent study showing the importance of Medicaid expansion to our state’s economy and business community,” said Dan Hogan, CEO of Medalogix and Nashville Business Journal’s 2012’s Most Admired Small Business CEO.
Last week’s Jackson Hewitt Tax Service report, “The Supreme Court’s ACA Decision and its Hidden Surprises for Employers: Without Medicaid Expansion, Employers Face Higher Tax Penalties Under ACA”, that showed in millions in increased federal tax penalties for businesses was followed by a warning to states by Moody’s Investors Service.
“We need to focus on how Medicaid expansion will impact Tennessee’s economy, the bottom lines of our employers, and the health of our workforce.” said Steven Andre, General Manager of the Hutton Hotel. “This isn’t about whether our legislators like ‘Obamacare’, it’s about dealing with the real impact this decision will have on our state’s economy.”
This week a report issued by Moody’s Investors Service, “Reduction of Medicaid & Medicare Disproportionate Share Hospital Payments a Looming Challenge for States and Hospitals.”, made clear that “States that opt out of Medicaid expansion will have to choose whether to compensate for the shortfalls with their own funds or leave hospitals to absorb the costs, which will increase rating pressure on the hospitals,” said Nicole Johnson, a Moody’s Senior Vice President. “States that choose to fund uncompensated care costs themselves could face budgetary strain.”
Yesterday, AARP released its own economic impact study that detailed billions in increased goods, services and wages that would result from Medicaid expansion here in Tennessee.
The report, presented to the Governor and legislature by AARP, showed that expansion would result in additional production of goods and services valued at $17.6 billion and wages, salaries and benefits worth $7.9 billion. A direct result of a 30:1 ratio of federal dollars received vs state tax dollars spent on the expansion.
“AARP’s economic impact study shows a 30 to 1 return on our investment as taxpayers if we expand Medicaid,” said Hogan. “We can’t allow politics to get in the way of a great economic opportunity for our state.”
Here’s what the state’s largest newspapers have to say about Medicaid expansion:
The Tennessean Editorial – February 23, 2013
“Medicaid expansion, fiscally smart, right thing to do.”
Memphis Commercial Appeal – February 3, 2013
“Compelling reasons to expand Medicaid.”
Knoxville News Sentinel – February 13, 2013
“Haslam should push for Medicaid expansion.”
Chattanooga Times Free Press – February 12, 2013
“It would recklessly wrong and massively hurtful..to say no (to Medicaid expansion).”
Chambers of Commerce who are supportive of Medicaid expansion:
Nashville Area Chamber of Commerce
Greater Memphis Chamber of Commerce
Knoxville Chamber of Commerce
Chattanooga Chamber of Commerce
Jackson Chamber of Commerce
Johnson City Chamber of Commerce
Clarksville Area Chamber of Commerce
Springfield Chamber of Commerce
Republican Governors who are supportive of Medicaid expansion:
Gov. Chris Christie (NJ)
Gov. Rick Scott (FL)
Gov. John Kasich (OH)
Gov. Rick Snyder (MI)
Gov. Jan Brewer (AZ)
Gov. Brian Sandoval (NV)
Gov. Susan Martinez (NM)
Gov. Jack Dalrymple (ND)
Other individuals and organizations who are supportive of Medicaid expansion:
Fmr. Senate Majority Leader Bill Frist (R)
Tennessee Business Roundtable
Blue Cross Blue Shield of Tennessee