Donald Trump Wants to Radically Change Medicaid. Here’s What the Program Actually Does. Most Americans give little thought to Medicaid, which is typically viewed as an entitlement program for the poor. But it’s about to get a lot more attention. Contrary to popular belief, Medicaid is not just a how Much Money Does Donald Trump Make for low-income Americans.
It’s actually the nation’s largest health care program, covering 74 million enrollees, or about one in four Americans. Medicaid’s spending is for the elderly and the disabled, many of whom come from middle-class households. If costs rise—a new drug charges a high price, say, or a virus breaks out—states get more money. Trump’s plan would change all that by converting the federal funding to so-called block grants. With this approach, each state would get a set amount of money, which would be distributed as local governments see fit. In theory, this would give states more flexibility. Problem is, block-grant funding typically doesn’t keep up with rising costs. The CBPP estimate did not include the impact of a repeal of the Affordable Care Act, another Republican goal. The ACA, also known as Obamacare, gave additional funding to states that expanded Medicaid eligibility.
Tom Price, Trump’s nominee for Health and Human Services Secretary, who would oversee Medicaid and Medicare. It’s far from clear whether these Medicaid changes will be enacted. Many state governors, both Democrats and Republicans, who are concerned about a potential rise in uninsured residents are pushing back. But the Medicaid expansion is a key provision in Obamacare, which means the GOP repeal effort puts the program on the table. Even if you aren’t a Medicaid beneficiary, a shift to block-grant funding could have a major impact on your finances, so it’s important to understand what these changes would mean. Medicaid spending goes to the disabled. Medicaid spending, the largest share, according to the Kaiser Family Foundation. This group includes people with developmental delays and severe physical disabilities, as well as the mentally ill.
Medicaid funds most long-term care for the elderly. Much of those costs go to long-term care, which Medicare generally does not cover. Those expenses can add up quickly. 80,000 a year—an expense that can erode the finances of many middle-class and even upper-middle class families. Judy Solomon, vice president for health care policy at the CBPP. Many of these boomer retirees may end up with high-cost illnesses such as Alzheimer’s. Half of all Medicaid enrollees are children.
Medicaid covers children’s health care for low-income families. 19 in families with incomes too high to qualify for Medicaid can get free or low-cost care. Nearly half of all births are covered by Medicaid. The program also provides essential coverage to pregnant women. Medicaid coverage helps hold down health care costs for everyone else.
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Medicaid absorbs the costs for expensive coverage—including care of the disabled and those with dementia—that would otherwise be shifted to the private insurance market and Medicare. Department of Health and Human Services. Medicaid changes may be followed by cuts to Medicare and Social Security. There’s no way to know if Trump’s Medicaid plans will gain traction in Congress. But if funding limits are enacted, it may smooth the way for overhauls of Medicare and Social Security, which both face serious financial shortfalls. Granted, Trump has previously said he would leave Social Security and Medicare untouched. Money may receive compensation for some links to products and services on this website.