Florida economists on Thursday came out with a new price tag for President Barack Obama's health care overhaul that is dramatically lower than the one cited earlier this year by Gov. Rick Scott.

Florida Gov. Rick Scott has announced that he will expand Medicaid to an estimated 900,000 additional Florida residents under President Barack Obama's health care overhaul. The decision is a surprise since Scott has been a vocal critic of the Affordable Care Act.

It turns out that the state of Florida has yet another major decision to make in the next few months when it comes to the federal health care overhaul.

The administration of Gov. Rick Scott is now contending that the federal health care overhaul will cost state taxpayers billions more than estimates from just a few months ago.

The Florida Retirement System home to some 900,000 active and retired public employees is now underfunded by 13.1 percent, up $1.2 billion over last year.

State economists are not sure if the work force is shrinking due to the number of people retiring, but says the local economy could be aided by boomer transplants.