Expanding Medicaid in Iowa would add nearly $2.2 billion to the state's economy over the next seven years, and create more than 2,300 jobs, according to a new study funded by the American Hospital Association. 

In addition, expansion of the state's Medicaid program, which is funded under the federal Patient Protection and Affordable Care Act, would save the state more than $1.6 billion, the organization said in a release.

"The first priority of Medicaid expansion is to insure as many low-income Iowans as possible," Iowa Hospital Association President and CEO Kirk Norris said in a release. "But this report also shows that Medicaid expansion is both economically beneficial and fiscally responsible." The Iowa Legislature is currently considering whether to expand the program.

Gov. Terry Branstad opposes Medicaid expansion and has
proposed a plan in which participants would pay a monthly contribution and receive matching state funds.