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Pledge to Vote, Florida. Medicare Contributes $53.9 Billion to State's Economy

Posted on 07/24/18 by Patti Shea, AARP Florida

TALLAHASSEE – Medicare contributes $53.9 Billion to Florida’s economy, equivalent to 32% of state and local government spending in the state, according to a new report from AARP. Medicare also covers 4,082,352 beneficiaries in the Sunshine State. Older Americans have said Medicare is one of their top issues in the 2018 mid-term elections, and AARP Florida is working to encourage voter participation this election season.

“Medicare is a major economic engine in Florida’s economy security, as well as a key part of providing health security to Floridians” said AARP Florida State Director Jeff Johnson. “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 Florida is below:

  • $19.8 billion for hospitals
  • $15.4 billion for doctors
  • $2.1 billion health professionals
  • $8.1 billion for prescriptions and medical supplies
  • $703 million for medical equipment

Click to enlarge

Click here to download the Florida Medicare Fact Sheet.

Also, businesses in Florida 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.

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