New York Set to Slash Medicaid Spending for the 2009-10 Fiscal Year

Posted by Jason Greis on December 17, 2008 under Articles | Be the First to Comment

Governor David Paterson released a budget proposal on December 16, 2008 that would significantly reduce New York’s Medicaid spending, while raising more than $1 billion in assessments on hospitals (including LTACHs), other healthcare providers and health insurers.  A Press Release issued by The Healthcare Education Project (a venture between the Greater New York Hospital Association and SEIU Local 1199) estimated potential Medicaid payment cuts of $1.4 billion dollars to hospitals for the 2009-10 fiscal year.  The proposed budget also seeks to raise more than $1 billion in fees, surcharges and assessments on health care providers and insurers, in part, by imposing a a 0.7 percent assessment on hospital inpatient revenues and creating a new $49 million surcharge on procedures performed by physicians in office-based and urgent care settings. Read More...