MEDICAID WORKS: New Report Shows Medicaid Expansion a Boon to Mississippi Economy
Posted Tuesday, May 21, 2013
A report released today found expanding Medicaid in Mississippi would be good for the state and its small businesses, relieving some of the burden of their health insurance costs and stimulating the state's economy. To read the full report click here.
Small Business Majority, a national nonpartisan small business advocacy organization, issued the report and found that Medicaid expansion will create jobs in all parts of the state economy. Between 2014 and 2020, the jobs created by the expansion would add $673.8 million in labor income.
Small Business Majority found that "Just like a new factory or federal construction project, Medicaid expansion will pump new money into the economy"
The report also shows expansion helps reduce costs for small business owners currently providing insurance by helping reduce the so called "hidden tax" that increases health insurance rates to account for unpaid medical procedures.
And it puts small businesses on a more level playing field with larger companies. By covering hundreds of thousands of additional people, most of them low-wage working adults, small businesses that could not afford to offer their employees health insurance would be better able to compete for workers with big businesses that can.
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