The Missouri Economic Research and Information Center (MERIC) has released a report on the economic impact of Medicaid expansion in Missouri.
The analysis finds that expansion of Medicaid eligibility for adults earning up to 138 percent of the federal poverty level (FPL) is expected to result in the creation of 23,868 jobs, $9.9 billion in new wages, and $14.6 billion in new Gross State Product (GSP) from 2015 to 2022. According to the report, Medicaid expansion would also generate $402 million in new state general revenue from 2015 to 2022, including $53 in new general revenue in 2015 alone.
The report from MERIC found that Medicaid expansion would support the same number of jobs as are currently employed in Missouri’s entire real estate sector. New federal spending of nearly $1.7 billion in the first year of expansion would be on par with what the University of Missouri System paid its all of its employees in wages and benefits during FY2013.
The Missouri Economic Research and Information Center (MERIC) is the research division for the Missouri Department of Economic Development. MERIC provides analyses and assistance to policymakers and the public, including studies of the state’s targeted industries and economic development initiatives. Other MERIC research includes Economic Condition Reports, Economic Impact Assessments, and Labor Market Information produced in cooperation with the U.S. Department of Labor. MERIC has been recognized with 12 national awards for research excellence since it was formed in 2001.