Governor Steve Beshear announced on Thursday that his decision to implement Medicaid expansion under the Affordable Care Act will add 40,000 jobs and $30 billion to the state’s economy through 2021, according to a study by Deloitte Consulting LLCC, which was commissioned by the state. The study also cites that the expansion will generate a net positive impact of nearly $820 million to state and local government budgets.
The Governor expanded Medicaid by Executive Order in 2013 and stated that if the state had not accepted expansion, the state would have incurred $100 million in costs.
The expansion went into effect January 1, 2014 and at the end of 2014 over 375,000 Kentuckians had signed up for Medicaid under the expansion.
To see the Governor’s full press release click here.