New Mexico Expects Cut In Medicaid Funding
New Mexico – A legislative committee says the federal government plans next year to slightly reduce how much matching money it will provide to New Mexico for health care for the poor and uninsured children.
The Legislative Finance Committee reports that the Medicaid matching rate is expected to drop to about 69 percent in October 2012.
The committee said the change will mean about $9 million less in federal money for the program in the state's upcoming budget year.
Medicaid is jointly financed by the state and federal governments. For every $1 spent by the state on Medicaid, the federal government provides more than $2.
In the current fiscal year, New Mexico has budgeted about $3.8 billion on Medicaid. The program provides health care to about a fourth of the state's population.
Copyright 2011 The Associated Press.