The Colorado Health Foundation projects that expanding Medicaid to cover about 165,000 more Coloradans will add about 14,000 jobs statewide by June, 2015.
The number, released Wednesday, is higher than the rough estimate of 12,000 new jobs made a month ago by Tom Clark, CEO of Metro Denver Economic Development Corp., in an interview with Colorado Public News.
Clark figured that half the money would go to jobs and half to buildings and equipment, to provide health care to newly insured people.
The health foundation’s study, released this week, also found the Colorado state government will save money on the expansion until 2020. That’s largely due to the influx of federal funds covering most of the cost.
In addition, new jobholders will pay state taxes, and federal funds will replace state money that now covers care for prisoners, some elderly and mentally ill, and for certain substance abuse treatment.