Illinois Health Care -- March 14, 2024

Locator: 46761ARCHIVES.

Adobe: after hours, plummets, down 10%. Has never been of any interest to me.
Ulta: great report; stock down almost 6% after earnings reported. Has never been of any interest to me.

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Illinois and Immigrant Health Care

Lousy headline, from The Chicago Tribune:

Much better headline, unfortunately, from Fox News, and more states will follow:

Data points:

• population, Illinois:
• 13 million, if this is individuals, then perhaps 13 / 2 = 6.5 million households (I don't know; a wag) (see this site for better numbers)
  
• new law:
• illegal immigrants and non-citizen green-card holders who have been in theUS for less than five years: no longer covered by a pair of the state's health insurance programs beginning April 1, 2024
• but they will be eligible for a trifold
• number of individuals about whom we are talking
• 6,000 to lose coverage
• estimated 98,500 enrollees, but in FY 24, over 120,000 have signed up
• 1.22 x 98,500 = 120,000
  
• costs
• original cost estimated: $220 million
• revised: $880 million above that = $1.1 billion
• "final": earmarked $550 million for FY24; "this year," beginning July 1, 2024:  $440 million from the state's general fund has been proposed for the program
• the state budgeted $550 million for the programs last year, and Governor Pritzker is proposing $440 million for them during the fiscal year that begins July 1, 2024. During a meeting before the Joint Committee on Administrative Rules on Tuesday, Healthcare and Family Services chief of staff Dana Kelly said removing the designated group recipients from the two programs would save a little over $13 million.
• per capita (all numbers rounded, some significantly)
• $13 million / 6.5 million households: a savings of $2 / household;
  
• $220 million / 6.5 million households: $35 / year
• $550 million / 6.5 million households: $85 / year
• $440 million / 6.5 million households: $70 / year
• $1.1 billion / 6.5 million households: $170 / year = $14 / month
• $500 million / 120,000 = $4,000 per enrollee
• other data points:
• 6,000 / 120,000 = 5%

The usual disclaimers apply. I'm doing this simply to help me put this in perspective.