Expanding Medicaid in NH
One has to wonder when our elected officials, state and federal, will look beyond the short term (read that as re-election) and concentrate on what is best in the long term. Expanding Medicaid in New Hampshire as Rep. Norelli is pushing is a case in point.
The Federal government is printing money and borrowing through Treasury securities to finance our country’s debt. China and Japan each hold $1.1 trillion of these securities. An additional ten countries hold hundreds of billions each. The Federal government even borrows from itself as the Social Security Trust Fund holds Treasury securities, too. So, when Rep. Norelli says we need to capture the $500,000 per day we would lose by not participating in the Federal government subsidizing of expanded Medicaid, she is blithely overlooking the fact that the Federal government must borrow that money to do so. The U.S. spent nearly a quarter of a trillion dollars on its outstanding debt in 2013. The Federal government does not have the money to help New Hampshire fund an additional 58,000 individuals on expanded Medicaid.
It should also be pointed out that a recent study has shown that more individuals on Medicaid are visiting emergency rooms and not fewer as was projected. It is believed the reason is that more and more doctors are refusing to see Medicaid recipients because they cannot afford to stay in business at the much lower reimbursement rates Medicaid pays. So, one can imagine that placing 58,000 more onto Medicaid will only exacerbate the problem.
Rep. Norelli and her supporters in the Legislature had better look at the big picture and the long-term effect of expanding Medicaid. It is not just about caring it is about using fiscal good sense. We had better, collectively, start considering what this nation and this state can afford. Looking to the Federal government to fund our debt is beyond risky. It is suicidal.