Excerpts from West Virginians for Affordable Health Care website. Go here to get the rest of the story:
Because of the Patient Protection and Affordable Care Act, signed into law by President Obama—
Almost 83,000 low-income West Virginians have been enrolled in Medicaid in West Virginia.
The 83,000 (and growing) enrollment into Medicaid exceeds projections by a lot. Actuaries for the Office of the Insurance Commissioner projected that 91,000 West Virginians would be enrolled into the Medicaid expansion program by 2016 and that 68,000 would be enrolled in 2014. West Virginia may well exceed the 2016 projection early next year.
On May 2nd, West Virginia Governor Tomblin approved the Medicaid expansion clearing the way for an estimated 133,500 low-income west Virginians to become eligible for Medicaid benefits as early as January 1, 2014.
In approving the expansion, Governor Tomblin released an actuarial analysis finding that over the next ten years West Virginia would receive $5.2 billion in federal money. The Medicaid expansion would only cost the state $375 million over the same time period. Put another way, West Virginia will receive almost $14 in federal money for each dollar they invest in the Medicaid expansion over the next ten year. In fact, the federal government pays 100 percent of the expansion cost over the next three years. Over time their percentage is reduced to 90 percent but never falls below a $9 return on every $1 that the state contributes to the expansion.