Lagging Data Cause Cut in Federal Medicaid Funds Feb 02
- ID: 1806272
- February 2002
- Standard & Poors
Even as states are experiencing large gaps for the current fiscal year and continuing into fiscal 2003, the proportion of Medicaid expenses provided by the federal government will decline since the matching rates are based upon per capita income data for 1997, 1998, and 1999--when the economy was doing well. Concurrently, the slowed economy and a jump in medical costs will result in an estimated six million Americans being added to the uninsured roll (to 45 million, up from 34 million in 1993). The recession is forcing states to cut funding for two programs that would normally catch the uninsured in their safety nets: Medicaid and the Children's Health Insurance Program. As tax revenues fall because of the recession, states...
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