Ritter increases your insurance premiums
August 20th, 2009 | by Brian Schwartz |From the Northern Colorado Business Journal:
Bill Ritter today announced a plan that would trim about $320 million and reduce state jobs by about 267 positions in an effort to balance Colorado’s budget.
Among the cuts are $18.5 million in savings to the state’s Medicaid program, in part through a 1.5 percent reduction in health-care provider rates.
This could mean higher premiums for those who with a non-government health plan. Last year Bloomberg reported that
Inadequate reimbursements by programs such as Medicare and Medicaid increase the annual cost of covering a family of four by $1,788, according to the report, issued today by the actuarial consulting firm Milliman Inc.
For more on that, see here. As I wrote in July, Colorado Medicaid encourages careless medical spending:
tags: Colorado health care, Colorado Medicaid, cost-shiftColorado Medicaid has copayements that do not exceed $10. Most of the copayments cost less than a movie rental.
I suspect that it could keep costs down by making increasing them even slightly, rather than it paying for health care that appears free to patients at the point of service. For some perspective on whether a copay amount is high or low, I suggest the Consumer Expenditure Survey by the Bureau of Labor Statistics. Here’s data for 2006, for example.
I’d need to look at the Medicaid;s income-based eligibility to make a good analysis, but the information on the website wasn’t clear to me.
For a good video showing how much people spend on non-medical expenses, see here.
