Obamacare Decreasing Property Taxes
Posted on December 15, 2012 by admin
One of the biggest impacts of the Affordable Care Act has been its ability to decrease the number of unpaid hospital bills across the United States. This was accomplished with the expansion of various state Medicaid programs. To date, 27 states and the District of Columbia have accepted the expansion offering. While this is a victory in itself, as the Affordable Care Act has provided healthcare to those low-income individuals who could not afford it otherwise, the expansion has also created another victory for Americans.
Due to the fact that states do not have to use their funds for these new Medicaid enrollees or compensate for unpaid bills, property taxes will be lowered in 2015.
The Affordable Care Act is relieving the burden on millions of taxpayers. The fact that it provides care and funds for no immediate charge (as states will only have to pay for up to 10 percent of the Medicaid bill by 2020) has allowed states to appease residents and reduce their taxes.
Two years ago, uncompensated hospital bills totaled $40 billion, as reported by the American Hospital Association. CEO of America’s Essential Hospitals Dr. Bruce Siegel cites “encouraging” signs that Obamacare can “lessen the burden of uncompensated care on hospital and taxpayers.” The property tax adjustments that the United States will experience next year are the first step in the right direction.
In any case, it is important to note that this substantial decrease in property taxes is only happening in those states that have accepted the expansion and limited the number of their hospitals’ unpaid bills. The 23 other states in the country that have not accepted the Medicaid expansion have already missed out on billions of dollars of health insurance for their uninsured, and now their refusal has resulted in their passing on property tax decreases.