State Medicaid Spending Set To Reach $67 Billion By 2018
Capitol New York; Laura Nahmias, 2/24/2014
New York is likely to keep its title as the state with the costliest Medicaid program, according to a new analysis from state comptroller Tom DiNapoli.
The state, aided by a $2.2 billion windfall from enrolling new patients under Obamacare, will spend a total of $58.2 billion this year on its Medicaid program, the most of any state in the country.
Under the current spending plan, which assumes a recurring increase in federal aid for Obamacare patients, that amount is projected to grow, with total Medicaid spending set to reach $67 billion within four years, the report said.
The state currently enrolls 5,485,400 patients in its Medicaid program, a number that is going to grow 9.1 percent by 2018, the report said.
The state’s share of Medicaid spending is also going up. It’s going to reach $22 billion this year, and is set to increase to $24.6 billion within the next four years.