Tuesday, September 6, 2011

Colorado scaling back Medicaid program after understimating cost

The State of Colorado is scaling back its Medicaid program after extending it to cover poor adults without children two years ago. The state has now found that the number of people eligible for coverage is close to three times as high and the cost of insuring them is almost nine times the first estimated numbers. Original projections were for an additional 49,200 to join the program at a cost of $197.4 million per year, with annual cost per person to be $292 per month. New estimates show that the costs may be $900 per month per individual. The Department of Health Care and Financing will plan to cap the number of people served by the program to just 10,000, with an estimated cost of $190 million in two years.

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