Local jails are typically poorly equipped to deal with mental illness and related issues. Nonetheless, individuals with mental disorders are all too often incarcerated simply due to a lack of other options. Not only do these persons fail to receive needed and adequate treatment, but are also more likely to have various complications both when in custody and after release. At the same time, incarceration is costly for communities. In response to these concerns, programs have emerged across the country which seek to offer more appropriate options for both persons suffering from mental disorders and communities attempting to provide necessary services with scarce resources.
In 2015, The Perryman Group prepared a study to assist the efforts to reform the windstorm insurance system which focused on the possibilities of major storms along the Gulf Coast. While the analysis obviously does not reflect the unique and unprecedented effects of Hurricane Harvey, it does provide some useful insights. Given the significance of this historic storm and its role in the economy in the coming months, we wanted to share these insights.
Although there are many considerations in the corporate location decision process, the initiatives undertaken by economic development professionals (and funded by economic development sales tax receipts) have been the major contributing factors in many cases, and the Texas economy has benefited tremendously.
In July 2014, National Guard troops in Texas were deployed to the US-Mexico border as a response to the influx of immigrants (mostly children) from Honduras, Guatemala, and El Salvador. While troops have been sent to the area on various occasions in the past, the deployment raised concern among some area residents and community leaders who fear that it could take a toll on the regional economy.
An exchange is a private-market solution where competition among insurance providers will stimulate innovation and cost reduction measures while avoiding some of the flaws of the Medicaid program. Utilizing the Federal funds designated for Medicaid expansion under the ACA to provide private insurance coverage for the newly Medicaid-eligible population through such an exchange would increase the economic benefits to the state by both decreasing the administrative costs to the state and increasing the potential gains.
Import and export activity is an essential aspect of optimizing economic performance. By allowing each nation to focus resources on those goods and services where it has a competitive advantage and import other products, foreign trade helps improve business conditions and quality of life around the globe.
According to an analysis by The Perryman Group, every $1 spent by the State of Texas to expand Medicaid coverage under the Affordable Care Act (ACA) returns $1.29 in dynamic State government revenue over the first 10 years of the expansion. Medicaid expenditures lead to substantial economic activity, federal funds inflow, reduction in costs for uncompensated care and insurance, and enhanced productivity from a healthier population. When these outcomes and the related multiplier effects are considered, the program actually far more than pays for itself and provides a notable economic stimulus.
Mental health and substance abuse disorders are pressing challenges across the nation. While these problems can clearly take an enormous toll on individuals, they also involve sizable costs for society as a whole. For those without private insurance, problems can be particularly acute. Given funding challenges, dealing with these issues increasingly requires innovative approaches to maximize the return on investment in services. Even beyond the quality of life and other human costs, mental health disorders can be expensive in terms of treatment. With inadequate treatment, overall costs, such as comorbidities, loss of wages and productivity, incarceration, homelessness, and mortality, can notably escalate.
In a remarkable odyssey of almost two centuries, a rugged and remote frontier outpost named for one of its many native tribes has been transformed into a major center of high technology and international commerce. From cattle to cotton to oil to electronics, Texas has repeatedly reoriented its business complex to meet evolving needs and circumstances. Even given the Lone Star State's remarkable capacity to adjust, the current period is one of unprecedented challenges (and opportunities).
The legacy of all great civilizations is in large measure the art they leave behind. It is little wonder that when the 100 most influential persons of the past millennium were named, about one-fourth of them were representatives of the cultural arts.