CT Medicaid spending down 4.2% from FY 14 to FY 15

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Happily CT’s Medicaid program is bucking the state budget trend. State spending on CT’s Medicaid program fell 4.2% between state fiscal year (FY) 2014 and 2015, largely due to higher federal reimbursements, according to an analysis by the Office of State Comptroller. Between FYs 2009 and 2015, Medicaid averaged 4.1% annual increases, lower than the state employee health plan at 4.4% and state retiree health insurance at 5.5%. According to the report, almost half of Medicaid spending goes to hospitals (28%) and to drugs (18%). Between FY 2014 and 2015, hospital spending dropped by 1.5% while pharmacy spending grew by almost 40%. The report points out that Medicaid “can have a growth rate that is consistent with or even below general medical inflation and still consume one of the largest dollar shares of the budget.”