July 30 marks the 60th anniversary of Medicaid and Medicare. As a country and a state, we should be celebrating these landmark institutions. But earlier this month President Trump signed the “big, beautiful bill,” which will have devastating consequences for Medicaid, Medicare, the Affordable Care Act marketplace, our health care system and our most vulnerable populations.
What the Trump administration and its Republican allies call “trimming waste, fraud, and abuse” will, in reality, pull away the safety net from those who need it the most to fund an aggressive, inhumane deportation policy and tax cuts for the wealthiest Americans. Fortunately, our state lawmakers, governor, and our new incoming governor can act to mitigate this damage and protect New Jerseyans from some of the worst effects of this legislation.
The task before us is daunting. Thanks to Trump’s legislation, budget cuts will reduce New Jersey’s state Medicaid funding by $360 million annually and gut hospital and public health funding by $3.3 billion each year. We will face a dramatic rise in the uninsured and skyrocketing health care costs. Up to 350,000 residents are expected to lose NJ FamilyCare/Medicaid, and more than 450,000 more will see ACA premium hikes of 110%, according to Get Covered NJ; that’s an average increase of more than $4,000 in insurance premiums for a family of four.
Read full op-ed here.