By foregoing Medicaid expansion under the Affordable Care Act, Florida has turned away billions of dollars in federal spending and prevented hundreds of thousands of low-income adults from accessing health insurance through the Medicaid program. COVID-19 has made the situation worse, as the accompanying recession has cost millions of Floridians their jobs, and for many, their health insurance. If the state reversed course and expanded Medicaid, it would not only extend health insurance to low-income adults, it would also bring in billions in new federal dollars that could help stimulate local economies throughout the state, particularly in South Florida. This brief examines the potential economic benefits that would result if Florida adopted Medicaid expansion as 38 other states have now done. We estimate that it could generate as much as $7.3 billion in economic activity in one year statewide. Miami-Dade and Broward Counties could experience up to 1.7 billion in new activity.