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Medicare Adds $2.8 Billion to New Hampshire’s Economy

Medicare_StateEconomy__NH

Medicare contributes $2.8 billion to New Hampshire’s economy, equivalent to 22% of state and local government spending in the state, according to a new report from AARP.  Medicare also covers 260,598 beneficiaries in the Granite State. Older Americans have said Medicare is one of their top issues in the 2018 mid-term elections, and AARP New Hampshire is working to encourage voter participation this election season.

“Medicare is a major economic engine in New Hampshire’s economy security, as well as a key part of providing health security to Granite Staters,” said AARP New Hampshire State Director Todd Fahey.  “Older Americans have said Medicare is one of their top issues in this election, yet too many politicians fail to recognize the contributions Medicare makes to the economy and our residents.  Any candidate who fails to talk about how they would strengthen Medicare for future generations does so at their peril.”

A breakdown of some of Medicare’s spending in New Hampshire is below:

  • $1.5 billion for hospitals
  • $442 million for doctors
  • $98 million for other health professionals
  • $186 million for skilled nursing facilities
  • $170 million for home health agencies
  • $347 million for prescription drugs and medical supplies
  • $26 million for durable medical equipment

Also, businesses in New Hampshire receiving Medicare dollars use them to pay employees’ salaries, rent, state and local taxes, and buy equipment, and make capital improvements to their facilities.

Recently, AARP worked to help close the Medicare Part D doughnut hole a year early – a victory for older Americans that the pharmaceutical industry is working to undo. AARP has also long opposed efforts that would reduce benefits or shift costs onto consumers by turning Medicare into a voucher program.  Such a move would dramatically increase people’s health care costs, and expose current and future retirees to greater financial risk.

AARP’s “Be The Difference. Vote” campaign includes a one-stop online portal – aarp.org/vote – to provide people with the information they need about this year’s elections.

 

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