Wyoming Liberty Group
Every year, Wyoming taxpayers spend hundreds of millions of dollars on Medicaid. Yet we have little to say in its management. The federal government mandates who Medicaid covers, what it pays for, and how it pays doctors. Because of all these mandates, Medicaid has grown too large and cumbersome to ensure patients have reliable access to quality healthcare.
Charlie Katebi and John Birbari discuss the budget crisis' impending impact on Medicaid and how patient-centered reforms can give Medicaid patients greater control over their healthcare and deliver better value for taxpayers.
Wyoming originally opted into Medicaid to help low-income individuals access medical care. But unless this entitlement undergoes systemic reforms, patients will find it harder than ever to get healthcare.
Welfare was originally created as a safety-net of last resort for those unable to help themselves. But all too often it traps otherwise productive individuals in government dependency, sapping their potential and life prospects.
Entitlements used to be considered the “third-rail” of American politics. Now the public recognizes that without major changes to Medicare and Medicaid, both programs threaten our fiscal future. Fortunately, there are reforms that not only save taxpayers money, but also deliver better healthcare to the elderly and needy.
Supporters of Medicaid Expansion, including Governor Matt Mead, express an unwavering belief that the federal government will actually fund this entitlement as promised. Yet Washington’s promises often become unfunded mandates. Even before the end of this year it is likely that Congress will cut federal funding for Medicaid Expansion and leave states holding the bag.
The Nobel Memorial Prize in Economics was awarded for the first time in 1969. The inaugural laureates were Ragnar Frisch and Jan Tinbergen, two pioneers in econometrics. The motivation was that econometrics provides economists with excellent forecasting tools.