Report Shows Medicaid Expansion a Boon for Missouri Economy, Small Businesses

A report released today found expanding Medicaid in Missouri would be good for the state and its small businesses, relieving some of the burden of their health insurance costs and stimulating the Show Me State̢??‰?s economy.

In June 2012, the Supreme Court gave states the option to expand eligibility for Medicaid under the Affordable Care Act. Missouri has yet to decide whether it will expand its Medicaid program. The report, released by the Branson, Kirksville Area and Ste. Genevieve chambers of commerce, along with advocacy organization Small Business Majority, found that if Missouri expands its program and takes advantage of the federal funding available to cover the costs, it will support jobs and stimulate economic growth throughout the state while expanding health coverage for residents.

̢???As a healthcare provider I know how important it is to expand coverage to everyone,̢???? said Sinelia Louis, owner of Caregivers Company, LLC in St. Charles, Mo. ̢???Not only is expanding Medicaid the right thing to do, it will strengthen Missouri̢??‰?s economy and increase business for small firms like mine.̢????

The report found that the additional federal dollars flowing into the state because of Medicaid expansion will be re-circulated to small businesses, boosting their bottom lines and helping them create jobs. What̢??‰?s more, expansion will help more small business workers get health insurance, which studies have shown create a healthier, more productive workforce.

The report also shows expansion helps reduce costs for small business owners currently providing insurance by helping reduce the so called ̢???hidden tax̢???? 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.

̢???The bottom line is that expanding Missouri̢??‰?s Medicaid program would lower insurance costs for small businesses and encourage a more robust workforce,̢???? said Mary Timmel, Missouri Outreach Manager for Small Business Majority. ̢???This would enrich our economy and create a healthcare environment much friendlier to many small employers who currently struggle to afford health insurance. With lower insurance costs and healthier workers, small employers can worry less about healthcare and concentrate on growing their businesses and creating jobs.̢????

To read the full report visit: http://www.smallbusinessmajority.org/small-business-research/healthcare/...