New York Medicaid Asks for $17.1B Waiver for Reinvestment

New York's Medicaid program has saved billions of dollars in its recent redesign, and now the state is asking the federal government to keep those savings to reinvest in Medicaid, according to a Times Union report.

Jason Helgerson, New York's Medicaid director, submitted a waiver to CMS asking if it could keep the roughly $17.1 billion in savings over the next decade to "make investments that otherwise would not be possible because of budget constraints," according to the report.

Sign up for our FREE Hospital CFO E-Weekly for more coverage like this sent to your inbox!

In order to receive approval for the waiver, New York Medicaid must show how the money will be used to make the program more cost-efficient and that the reinvestment will not increase costs after the waiver expires in five years.

More Articles on New York Medicaid:

New York Gov. Cuomo Requests Waiver for $10B Healthcare Investment

New York Medicaid Finished $14M Under Budget in 2011

New York Medicaid Work Group Recommends Coverage Cuts

© Copyright ASC COMMUNICATIONS 2012. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.