The $450 Billion Glitch: 3 Million Extra Middle-Class Americans Eligible for Medicaid Benefits

Wow. Philip Klein points us to this AP story, in which Richard Foster, Chief Actuary of the Centers for Medicare and Medicaid Services, says that, due to a glitch in Obamacare, married couples of early retirees making around $64,000 a year will become eligible for Medicaid. According to Foster, as many as 3 million Americans will qualify for the benefit. It’s “a twist government number crunchers say they discovered only after the complex bill was signed.”

If we do a back-of-the-envelope calculation, in which the average annual Medicaid expenditure per early retiree is $15,000 per year, the ten-year cost of this glitch could be as high as $450 billion. “It’s almost like allowing middle-class people to qualify for food stamps, [Foster] suggested”

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