State Medicaid director Sarah Aker told the Board of Social Services Tuesday that the state is hiring 68 new staff to prepare for voter-approved Medicaid expansion to cover up to 52,000 new enrollees come July 1:
The official estimate is that 52,000 more people will become eligible, she said.
…The governor requested 68 more full-time positions in DSS to handle the expansion. “We’ve had really great responses to our job listings in a lot of areas,” Aker said. “It’s going pretty well in terms of our hiring” [Bob Mercer, “South Dakota Medicaid Resets for July 1 Expansion,” KELO-TV, 2023.04.18].
That coverage estimate is 10,000 more South Dakotans than the 42,500 the Legislative Research Council figured Medicaid expansion would help. I would suggest that some of that overage comes from the 22,000+ whom we are purging from Medicaid coverage right now, Aker’s figures come from a DSS document presented to Joint Appropriations in January which guesstimates 52,300 new eligibles based on inflation of a 2015 estimate from Market Decisions Research. DSS says its 2022 actuarial analysis indicates Medicaid expansion will cost $8,814 per new enrollee. DSS fudge-factors both the number of new eligibles and the cost per enrollee by 10% “based on cost overruns in other states” to budget $557.8 million for Medicaid expansion benefits and $21.2 million for administrative costs in Fiscal Year 2024 (3.7% administrative overhead—compare that to 11% to 20% administrative overhead for private insurance).
But remember: the federal government picks up 90% of that cost, now and for as long as the Affordable Care Act exists. And for the first two years, President Joe Biden’s American Rescue Plan covers another 5%. So we’re getting $580.0 million worth of health care coverage for possibly over 52,000 South Dakotans by spending just $12.7 million of our own money.
That $567 million in federal spending that Governor Noem has approved to carry out the voters’ will to expand Medicaid will more than wipe out the $3 million in federal dollars that Governor Noem rejected out of her professed fear that federal spending causes inflation. That $567 million will also help tens of thousands of South Dakotans get health care, stay healthier, avoid sick days, earn more money, buy more stuff, pay more taxes, and reduce other costs for our economy and for state government.
There is a common misconception that federal spending always leads to inflation. However, this is NOT the case. – In fact, federal spending actually helps curb inflation by increasing economic output and productivity. When the government invests in infrastructure, education, and innovation, it creates job opportunities and boosts consumer confidence in the economy. As demand for goods and services increases, businesses have an incentive to increase production, which can lead to lower prices and more competitive markets.
– Inflation is more likely to occur when the economy is operating at full employment and capacity.
– Federal spending can help close the gap between supply and demand, reducing the likelihood of inflation.
– While excessive spending or poor management can certainly contribute to inflation, federal spending itself does NOT automatically cause inflation.
I don’t pretend to know all the causes of inflation, but if the spending is done with
money printed for that purpose, then that spending is inflationary.
We cannot forget greed contributes to inflation. Mega profits plus unnecessary, blind consumerism are trending and are killing us, according to me.
Biden Bucks cause inflation. They are bad. They are very bad.
Montana held first place in 2021 but South Dakota is again the most lucrative state to practice medicine thanks to its medical industry triopoly.
There is a growing movement among Democrats and others to fund Medicare for all but I like the idea of rolling the funding for Obamacare, TriCare, Medicare, the Indian Health Service and the VHA together then offering Medicaid for all by increasing the estate tax, raising taxes on tobacco and adopting a carbon tax.
Yes, socialized agriculture, socialized dairies, socialized cheese, socialized livestock production, a socialized timber industry, socialized air service, socialized freight rail, a socialized nursing home industry, a socialized internet, socialized gas well remediation and now a socialized water system are all fine with Republicans in South Dakota but then they insist single-payer medical insurance is socialized medicine.
I may not be 100% sure of the causes of inflation, but reactionary Republicans angry about any dollar going to workers — not the rich — always seem to be the root of inflation panic.
Edwin is over generalizing and he and grudznichts are just wrong.
Their assertions that printing new money causes inflation is a popular misconception. While it is true that an excessive increase in the money supply can sometimes lead to inflation, simply printing new money does not necessarily cause inflation.
The actual cause of inflation is the relationship between the supply of money and the demand for goods and services within the economy. If the demand for goods and services is high and the supply of money is low, inflation can occur regardless of whether new money has been printed. On the other hand, if the demand for goods and services is low and the supply of money is high, inflation will not occur.
It is therefore important to not over-generalize the concept of printing new money and its effect on inflation.
It seems to me that a high money supply will almost always lead to
higher demand. Monetary policy as opposed to fiscal policy is always good for
a robust debate. In general terms, people will spend their money, no matter
what the source. By golly, looks like there might be room for a pool beside the new garage.
It seems to me that unregulated Republicans almost always lead to runaway greed. In short: Given the opportunity Republicans revert to unbridled selfishness. Greedy business owners will only stop raising prices when public opinion turns against them. It’s vital for central government to expose the price increases for what they are. That is unregulated Republican opportunism.
Mr. P.h, grudznick disagrees that greedy business owners will stop raising prices when public opinion turns against them. Greedy business owners will never stop and don’t care about public opinion. They say
right into the face of public opinion. Now, kinder and gentler business owners will stop raising prices when people ask nicely.
“Capitalism without competition is exploitation.”
South Dakota is 22nd in “medical environment,” nurses’ salaries still surf the bottom, and the state endures the highest medical costs so why isn’t there a regulatory body like the Public Utilities Commission to regulate medical care costs? Because the state is a corporatist tax haven for an exclusive set of Republicans while over $4 trillion languishes in South Dakota banks and trusts and a career in usury gets your name on a hospital system, an entertainment venue, an underground laboratory or a football stadium.
Mr. Dykhouse is in the SD Hall of Fame, so try and show a little respect, Lar.
Criminals land in the SD Hall of Fame all the time. Bill Janklow, Stan Adelstein and Gary Cammack are in there, ffs.
President Biden has a plan to tackle inflation – by lowering costs that families face and lowering the federal deficit by regulating the large corporations and the wealthiest Americans to pay their fair share.
Inflation is on people’s minds and starting to affect the way they spend money. Inflation will slowly drift downward but prices for what consumers consider essentials, food, autos, housing among others, have set new thresholds and will not come down overnight. The general increase in wages, which was necessary given the extreme differentials in our system of “who gets the cash”, provides inflation with a growth environment. Taxing high income individuals at increased rates, never popular with Congress and the “trickle down crowd” , will provide an inflationary brake, though it will will probably remain true that the old axiom “The wealthy don’t pay taxes, the wealthy pay accountants and tax lawyers,” will probably prevail.
President Mr. Uncle Joe Biden doesn’t have a plan. He’s more confused than your own dear grandmama, Mr. P.h, may she rest in peace. President Mr. Uncle Joe Biden is one disoriented individual with no plans at all.
At that I’ll bid you a fond weekend, Sir g-nichts. :) It’s retrograde and you’re almost fully unable to communicate what you’re trying to say.
grudz coins have a negative value and a negative valence.
“Le secret des grandes fortunes sans cause apparente est un crime oublié, parce qu’il a été proprement fait.”
CEPR Economist Dean Baker in his column last week documented CPI at 5% last month, and 2.7% on production costs, along with the trend to have inflation near 2% by next spring. So about the time the next Presidential campaign gets rolling in earnest, inflation will be fading as an issue — unless McCarthy’s House majority has totally screwed the US economy.
Medicaid expansion will cause inflation:
1. Expanding Medicaid means more people get health coverage.
2. Health coverage means healthier workers.
3. Healthier workers put in more hours and make more money.
4. More money means more demand for goods and services.
5. Those darned healthy workers with their darned overtime pay will flood the market with cash and drive up prices for everyone.
The obvious solution is to cancel Medicaid and health insurance in general, make people sicker, and reduce demand for goods and services.
Wouldn’t natural progression suggest that healthier workers produce
more goods and services, thus somewhat mitigating inflationary pressures?
Sorta makes sense to me, and other reasonably intelligent people.
Are you using a flip phone, Ed?
Absolutely. As do other reasonably intelligent people of my age.
Bless your heart.
https://www.startribune.com/minnesota-lawmakers-weigh-fines-oversight-of-expensive-medical-providers/600269285/