The Healthy Michigan plan is living up to its name when it comes to the financial well-being of the state's hospitals, according to a new study from the University of Michigan's Ross School of Business. The report found that uncompensated care - which includes both charity care given to uninsured patients without the means to pay, and bad debt from insured patients who can't pay their high deductibles - has dropped by nearly 50 percent since the Medicaid expansion in 2014. Study co-author Tom Buchmueller says the change is particularly noteworthy given that many insurers have raised deductibles.
"You take away the stress of knowing that you're one medical event away from financial catastrophe and that gives you peace of mind, and there's a tangible mental-health benefit there."
About 646,000 residents participate in the Healthy Michigan Plan, which is supported by state and federal funds under Obamacare.