Free Speech Data
Act Two
EP05
The 2024 Cliff
76% DROP · 10M DISENROLLED
Act 2 · Episode 5
The 2024 Cliff
Spending dropped 76% in 2024. Ten million people disenrolled. Is it a collapse or a reset? Understanding who got left behind tells us everything.
February 12, 2026~11 min
“It's not a collapse. It's a reset. And understanding who got left behind tells us everything.”
Key Findings
176% spending drop driven by enrollment, not system failure
2~10M people disenrolled (Sept 2023 – Dec 2024)
3Personal care disproportionately affected
Data Points
Data
$17.8B (Jan 2024) to $4.2B (Dec 2024)
Data
Per-claim costs remained stable
Data
Remaining beneficiaries: older, more complex cases
People & Entities
CMSState Medicaid AgenciesDisenrolled Beneficiaries
Locations
United StatesTexasFloridaGeorgia