U of M Study: Healthy Michigan Boosts Financial Health of Working Families

Posted at 10:32 AM, Sep 19, 2018

As this week marks the 5th anniversary since Healthy Michigan was signed into law, a new study from the University of Michigan is detailing [] how getting healthcare under Medicaid expansion has also boosted the financial health of working families in Michigan:
“Getting health coverage meant lower unpaid debt; fewer bankruptcies, evictions and late payments; and higher credit scores for individuals -- especially the sick.”
Bill Schuette, who is on the run [] from his disastrous healthcare record, spent years filing lawsuits to block the law that allowed Healthy Michigan, with his spokesperson stating in 2013 []: “Bill Schuette has consistently opposed the expansion of Medicaid.”
“For the past five years, Healthy Michigan has not only provided life-saving and critical access to care, it’s also been a major economic boost around the entire state. This study is just more proof that Bill Schuette was siding against working families when he used his office to oppose Medicaid expansion at every turn," added Michigan Democratic Party Spokesperson Sam Newton. "That's a disastrous healthcare record he can't escape." 
Key excerpts from the Detroit News report on the University of Michigan study include []

  • The study found drops in unpaid debts, such as medical bills and overdrawn credit cards, as well as fewer bankruptcies and evictions after people enrolled in Healthy Michigan.
  • Sarah Miller with the UM Institute for Healthcare Policy and Innovation: “Enrollees’ financial well-being seems to improve when they can get the medical care they need without having to put it on a credit card. And the largest effects are among the sickest enrollees.”
  • The greatest financial gains were experienced by people with chronic illnesses or who had a hospital stay or emergency department visit after they enrolled.
  • Enrollees experienced a 21 percent rise in automotive loans, an indication of improved financial well-being.