Marylanders Save $460M with Broadened Healthcare Coverage
- Maryland residents have saved $460 million due to expanded health care coverage options. The amount saved would have otherwise been applied to all Marylanders’ health insurance premiums.
- Medical bills are the leading cause of bankruptcy filings, according to Vincent DeMarco, CEO of Maryland Health Care For All. He also highlighted that the expanded health care options will benefit all residents, especially those who are uninsured and unable to pay their medical bills.
- Gene Ransom, CEO of the Maryland State Medical Society, added that the expansion of health care has also led to a decrease in the uninsured population in several counties, thereby reducing the tax and insurance premium burden on residents. The percentage of hospital uncompensated care as a portion of revenue has decreased from 8.5% in 2007 to 4.3%.
Expanded Health Care Options Save Marylanders $460 Million
Thanks to increased health care coverage, residents in Maryland have collectively saved $460 million on medical bills. Vincent DeMarco, CEO of Maryland Health Care For All (MHCFA), highlighted that medical bills are the primary reason for bankruptcy filings, making expanded coverage a moral necessity.
DeMarco believes that these new options benefit all Marylanders, not just the uninsured. He explained that when uninsured individuals incur hospital bills they can’t pay, it falls under uncompensated care, resulting in higher premiums for everyone. This phenomenon was dubbed the ‘hidden health care tax’ by Former house speaker Mike Bush.
Health care policy consultant, Steve Ports, backed this up by stating that the $460 million saved would have otherwise been added to the health insurance premiums of all Marylanders. He said, “The percentage of hospital uncompensated care that it represents of hospital revenue is 4.3%. That is down from 8.5% back in 2007,” following the expansion of Medicaid and the implementation of the Affordable Care Act.
Gene Ransom, CEO of the Maryland State Medical Society, emphasized the positive impact of these health care expansions on Maryland, particularly the Eastern Shore. He observed a reduction in the number of uninsured residents in Queen Anne’s county over the past fifteen years, resulting in decreased tax and insurance premium burdens for its residents.
—
Read More Health & Wellness News ; US News
Leave a Comment