CHIP Makes Economic Sense
As the Senate prepares to reauthorize the Children’s Health Insurance Program (CHIP), Senator Charles E. Schumer, Chairman of the Joint Economic Committee and a member of the Senate Finance Committee, released a new fact sheet highlighting the benefits of reauthorizing and expanding CHIP. According to the fact sheet, entitled “CHIP Makes Economic Sense,” CHIP has dramatically reduced the number of uninsured children since its creation in 1997. Over one million children currently covered by the program stand to lose coverage under the President’s reauthorization proposal, as states would face a total federal funding shortfall of as much as $7.6 billion over the next five years.
· CHIP has dramatically reduced the percentage of uninsured children.
· Together with Medicaid, CHIP has ensured that disadvantaged children receive critical preventive care.
· Investing in children’s health insurance is a sound public investment.
· Children with health insurance are more likely to enter adulthood with greater employment and earnings potential.
· CHIP is a cost-effective way to ensure that millions of low-income, uninsured children receive quality health care.
· CHIP is not “government-run health care”.
· Despite CHIP’s success, about nine million children remain uninsured.
For the full text of this report, please click on the file listed under "Related Resources."