Medicaid expansion expected to cost $376M more than budgeted
BATON ROUGE - Louisiana's Medicaid expansion program is costing $376 million more than expected this year, as older and costlier uninsured people sign up for the free coverage.
That's according to the latest data released by Louisiana's health department.
The higher-than-expected cost boosts the estimated price tag for the program to $2.3 billion this fiscal year. The Louisiana Department of Health says the shortfall will be covered entirely by federal Medicaid financing.
Jeff Reynolds, chief financial officer for the department, said Thursday the latest data does suggest the program will cost more not just this year, but also in the long-term. However, he says the state has financing sources that will cover the increased costs.
Reynolds says he's still anticipating the state will save money on the program for the next five years.