Devoted to the Insurance industry and all thing related

A recent report released by the U.S. Government Accountability Office (GAO) paints a depressing financial picture for local and state government “employees, reties and poor people” in respect to health insurance.  According to a National Underwriter article about the report within the next fifteen years “GAO projections suggest that employee and retiree health coverage programs, Medicaid and other state health programs will start throwing state and local budgets out of balance.” 

The GAO calculated the astonishingly large amount of local governments (87,525) and all fifty states to come up with the numbers for total taxes and fees and grants and loans “from the federal government.” 

“The 50 state governments and 87,525 U.S. local governments collected a total of about $1.4 trillion in taxes and fees in 2006 and about $400 billion in grants, loans and loan guarantees from the federal government, GAO officials report.”