SEATTLE, June 17, 2020 /PRNewswire/ -- QuoteWizard®, a LendingTree company, and one of the nation's leading online insurance marketplaces released a report analyzing which states have the best Medicaid benefit programs.

QuoteWizard.com (PRNewsfoto/QuoteWizard)

As U.S. unemployment rose to 14.7% in April, millions of Americans are seeking unemployment benefits through Medicaid. Medicaid is notoriously underfunded at both the federal and state levels; however, some states are capable of providing better Medicaid benefits than others.

Visit the full report here, https://quotewizard.com/news/posts/states-with-best-medicaid-benefit-programs

Key findings:

  • The 14.7% unemployment rate has left many Americans seeking Medicaid benefits.
  • Nationally, 21% of people receive Medicaid benefits.
  • New York, New Hampshire and Wisconsin were found to provide the best Medicaid programs in the country.
  • States with the best Medicaid programs spend 65% more per person than bottom-level states.
  • Top-end states fund their Medicaid programs with higher rates of state-provided funding.
  • 29% of people in Medicaid expansion states became eligible with expansion under the Affordable Care Act.

Methodology
QuoteWizard analyzed Kaiser Family Foundation data on Medicaid costs and funding to see which states offer the best Medicaid benefits. We evaluated three factors to determine each state's capacity to deliver the best Medicaid benefits.

  • Cost of physician fee for service — Costs the state pays providers directly for each covered service received by a Medicaid beneficiary. Figures reflect a state's fees relative to the national average. A rating of 1.00 is considered to be an average cost.
  • Medicaid funding per beneficiary — Total funding for the state Medicaid program per person on Medicaid in the state.
  • Percentage of total Medicaid funding by the state — The funding each state provides compared to federal funds. On average, nationwide, there is a 65% federal funding and 35% state funding for Medicaid in each state.

Each ranking factor was analyzed to compile a composite score determining each state's overall capacity to provide the best Medicaid benefits.

 

Rank

State

Unemployment
Rate

Cost of
Physician Fee
for Service

Total
Spending
Per Person

% State
Spending

1

New York

14.5%

0.85

$12,591

49%

2

New Hampshire

16.3%

0.81

$11,596

40%

3

Wisconsin

14.1%

0.8

$10,090

41%

4

Minnesota

8.1%

1.04

$11,633

43%

5

New Jersey

15.3%

0.64

$8,856

40%

6

Pennsylvania

15.1%

0.93

$10,321

41%

7

Missouri

9.7%

0.79

$10,760

35%

8

Rhode Island

17.0%

0.53

$8,393

41%

9

Texas

12.8%

0.88

$8,842

43%

10

Maine

10.6%

0.85

$10,742

36%

11

Kansas

11.2%

1.01

$9,269

45%

12

Illinois

16.4%

0.85

$7,580

42%

13

Virginia

10.6%

1.1

$8,652

50%

14

California

15.5%

0.76

$6,822

40%

15

Massachusetts

15.1%

1.12

$8,670

45%

16

Vermont

15.6%

1.11

$8,907

41%

17

Wyoming

9.2%

1.38

$9,958

47%

18

Nebraska

8.3%

1.14

$8,535

47%

19

North Dakota

8.5%

1.35

$13,340

39%

20

Connecticut

7.9%

1.16

$9,116

41%

21

South Dakota

10.2%

1.1

$8,450

40%

22

Ohio

16.8%

0.85

$7,269

31%

23

Indiana

16.9%

1.05

$9,369

29%

24

Florida

12.9%

0.79

$5,797

38%

25

Hawaii

22.3%

0.89

$6,878

34%

26

Iowa

10.2%

1.04

$8,284

34%

27

Colorado

11.3%

1.13

$6,997

42%

28

Delaware

14.3%

1.4

$10,953

35%

29

Maryland

9.9%

1.35

$9,298

39%

30

Washington

15.4%

0.98

$6,662

38%

31

Oregon

14.2%

1.11

$9,369

27%

32

Oklahoma

13.7%

1.14

$7,282

39%

33

Michigan

22.7%

0.9

$6,698

29%

34

Kentucky

15.4%

0.98

$7,509

22%

35

Alaska

12.9%

2.28

$10,457

28%

36

Louisiana

14.5%

0.97

$6,452

28%

37

Utah

9.7%

1.19

$8,249

30%

38

North Carolina

12.2%

1.05

$6,090

32%

39

Arkansas

10.2%

0.98

$6,837

22%

40

Georgia

11.9%

1.02

$5,408

31%

41

Alabama

12.9%

0.95

$5,460

28%

42

West Virginia

15.2%

1.08

$6,862

21%

43

Mississippi

15.4%

1.17

$7,490

24%

44

South Carolina

12.1%

1.05

$4,946

28%

45

Idaho

11.5%

1.25

$6,179

29%

46

Arizona

12.6%

1.11

$6,074

23%

47

Tennessee

14.7%

N/A

$5,999

34%

48

Montana

11.3%

1.56

$7,060

22%

49

Nevada

28.2%

1.37

$6,574

25%

50

New Mexico

11.3%

1.19

$5,915

21%

 

About QuoteWizard QuoteWizard (quotewizard.com) is an insurance comparison marketplace for consumers looking to save on insurance. QuoteWizard provides consumers with direct access to thousands of qualified agents in all 50 states, as well as major carriers, who offer personalized quotes and the opportunity to save up to 40% on auto, home, health, and life insurance. Agents and carriers, in turn, benefit from millions of highly qualified leads, calls, and traffic to their site. Based in Seattle, QuoteWizard was founded in 2006.

For more information, go to quotewizard.com, like our Facebook page and/or follow us on Twitter @quotewizard.

About LendingTree LendingTree (NASDAQ: TREE) is the nation's leading online marketplace that connects consumers with the choices they need to be confident in their financial decisions. LendingTree empowers consumers to shop for financial services the same way they would shop for airline tickets or hotel stays, comparing multiple offers from a nationwide network of over 500 partners in one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, mortgage refinances, auto loans, personal loans, business loans, student refinances, credit cards and more. Through the My LendingTree platform, consumers receive free credit scores, credit monitoring, and recommendations to improve credit health. My LendingTree proactively compares consumers' credit accounts against offers on our network and notifies consumers when there is an opportunity to save money. In short, LendingTree's purpose is to help simplify financial decisions for life's meaningful moments through choice, education and support. LendingTree, LLC is a subsidiary of LendingTree, Inc.

Media Contacts:

Emily: emily@quotewizardnews.com

Nathan: nathan@quotewizardnews.com

Related Links
https://quotewizard.com 
https://quotewizard.com/news/categories/health 
https://quotewizard.com/news/posts/states-with-best-medicaid-benefit-programs

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SOURCE QuoteWizard

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