Budget: States need Medicaid help
June 12, 2010
Lawmakers agreed on a $5.5 billion budget for the upcoming fiscal year, but also adopted a contingent budget that could be used if Congress provides an additional $187 million in increased federal matching funds for Medicaid.
Technically, the Legislature is awaiting congressional action on a $24 billion bailout to the states that would come in the form of additional Medicaid funds through the federal medical assistance percentage - or FMAP. The complex program formula is used to calculate the amount of the federal share of state expenditures for services. Read the full article.