Governors' gripes about the Medicaid expansion almost always have to do with the price tag. That's not, however, what we're hearing from Arkansas: Officials there estimate that the Medicaid expansion would save the state $372 million in the first six years. Arkansas' analysis is one of the most detailed by a state so far, probing just about every way that Medicaid impacts state budgets. It's worth looking at to get a more complete understanding of the costs and savings a state accrues from participating in the program. The analysis starts off looking at the budget impact in 2015, where the state expects to save $38.8 million.