As Governor Cooper pressures legislative leaders to join the overwhelming majority of states that have expanded Medicaid, a new report shows how much North Carolina’s economy stands to gain from going down that road.
Authored by researchers at George Washington University, the report updates an analysis originally conducted in 2014. This current iteration projects that Medicaid expansion could add more than 37,000 jobs in North Carolina by 2022 and boost economic activity by over $11 billion annually.
Expansion would bring billions a year in federal funds to provide lifesaving coverage to very low-income North Carolinians who currently don’t qualify for Medicaid. Even with the state kicking in a dime for every 90 cents in federal funds, expansion provides an incredibly good deal for North Carolina. By 2022, when Medicaid expansion could be fully phased-in, North Carolina stands to receive $4.7 billion in annual federal funding. That capital would support over 20,000 new jobs in the health care field, but would also create another 16,600 jobs in the broader economy as health care professionals spend their salaries on goods and services like housing, food, clothing, education, and recreation. Read more