Oregon voters have voted to approve new taxes to pay for increased Medicaid costs in the state.

Voters on Tuesday approved new taxes on hospitals, health insurers and managed care costs.

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The vote is noteworthy because voters were the sole decisionmakers on how to pay for rising health care costs.

The measure enacts a 0.7 percent tax on some hospitals in the state and a 1.5 percent tax on managed care organizations and on entire health insurance premiums.

However, the measure is short term, as lawmakers must come up with a funding plan down the line for the more than 350,000 people added to Medicaid in the state.

The plan is expected to raise between $210 million and $320 million over two years.

Only 5 percent of the state's population is without insurance after Oregon worked to expand Medicaid under the Affordable Care Act, also known as ObamaCare.