So.... In 'Murica, we primarily have "sick" care, as opposed to "health" care.
We feed the people with bad self control all the grease/carcinogenic meats, then we try to extend their life slightly with pills and surgery which operate on some symptoms, but do not cure the underlying disease/ bad life habits.
Cutting medicare/medicaid, net result is, less money to "subsidized" bad health.
Most of this money is fundamentally funding the junk-food, meat+grease lifestyle.
People who have good health/ habits, generally don't need medicare medicaid.
It's going to be bad for people with legitimate medical emergencies, so, assuming a fraction of those with large labor potential's life is cut short, there might be a small percentage downtrend for productivity.
What we'll visibly see more of on the surface are cases like older people who can't pee (Prostate), and those who die 2-10 years earlier without the cholesterol/blood pressure medication.
Insulin might become an issue, but not much larger than it already is.
Fohat always talks about Depopulate, well, this will do it.