The Wyoming Department of Health estimates that if Wyoming were to accept the optional Medicaid expansion under the Affordable Care Act, it would save more than $47 million in state funds and reduce the number of uninsured residents. However, possible consequences include healthcare provider shortages and possible reductions in future federal funding due to deficit.
The optional Medicaid expansion would mean the program would cover every low-income person under age 65. At first, the federal government would cover 100 percent of the costs of covering the additional 17,600 patients whose income is at or below 133 percent of the federal poverty level. However, by 2014, Wyoming would be expected to pick up 10 percent of those costs by 2020. With that in mind, the combined estimated cost of the expansion is $151.1 million.
To read the cost study, click here.