The New Senate health care bill, the Better Care Reconciliation Act, proposes even deeper cuts to Medicaid than the House Bill. The Cuts to Medicaid proposed in this bill would adversely affect children, pregnant women, disabled individuals, and seniors in nursing homes. Medicaid currently pays for care to nearly 75 million Americans.
Medicaid’s benefits go beyond just helping patients and communities; it provides employment, higher earnings, greater educational attainment, and lower incarceration rates.
The economic consequences of a loss of Medicaid funding would affect the pay that doctors, nurses, and hospital receive-often the largest employers in a given city. It would also affect facilities that pay for and rent equipment. Plus the local employees in that area that purchase goods and services such as housing, food, and transportation.
According to a report from the Commonwealth Fund, this month found that the House’s American Health Care Act would have substantial negative economic consequences. By 2026, the analysis estimates, nearly 1 million jobs would be lost (725,000 in health care) gross state products would decrease by $93 billion, and business output would decline by $148B.