Medicaid: A cash cow, until it isn't
Last updated 5/18/2020 at 10:21pm
Medicaid began in 1965 as a safety-net health insurance entitlement for low-income families with children, the disabled, and some long-term care.
The program is financed by both federal and state governments in sort of a 50/50 arrangement. In reality, poorer states receive a higher percent of federal money than richer states.
Congress established the financial match program with the idea that state legislators would not increase the tax burden on their constituents. The entitlement would therefore stay small and be used for those people most needy and vulnerable.
The exact opposite has hap...