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02-24-2009, 04:21 PM #1
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Report:Recession Will Trigger Huge Medicaid Bill
Report: Recession Will Trigger Huge Medicaid Bill
Tuesday, February 24, 2009 12:39 PM
By: Dave Eberhart
As millions of unemployed Americans lose private health coverage in the recession, Medicaid, the national health program, will absorb a huge financial hit, according to a new Department of Health and Human Services (HHS) report.
In fact, say HHS analysts, spending on health care in the U.S. could double by 2017, reaching $4.3 trillion and accounting for 19.5 percent of the nation’s gross domestic product.
Program spending will ramp up 9.6 percent from $352 billion last year to $386 billion this year, concluded HHS experts.
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