Summary - Hospital Provider Tax and Insurer’s TaxHospital Medicaid Provider Tax:
•
Funds medical coverage for an average monthly caseload of
50,000
in OHP Standard in2009-11 reaching
60,000
by June 2011 and continuing at that level through 2011-13. Thatis up from the present monthly average of 25,000.
•
Generates
$307
million in tax and leverages
$550
million federal funds for 2009-11
$450
million in tax; and leverages
$635
million federal funds in 2011-13
$757
million in tax revenue
$1.19
billion federal funds over the 4 years
•
This includes about
$40
million of one-time federal stimulus FMAP funds to be used forhealth care purposes.
•
Resets Hospital Fee for Service Inpatient rates to 70% up from an average rate of 53%.
•
All the tax paid is returned to hospitals collectively in the form of enhancedreimbursement.
•
Tax begins 10/01/09 and sunsets 9/30/13.
•
Jobs created and retained by this expansion of health care expected to be
2,100
Insurers Tax:
•
Funds medical coverage for an additional
80,000
children by the end of the 2009-11biennium.
•
Generates
$105
million in tax revenue; and leverages
$240
million Federal Funds 09-11
$154
tax revenue;
$350
million federal funds 11-13
$259
million in tax revenue;
$590
million federal funds in to the State over the 4 years
•
The Federal funds include about $10 million of one-time federal stimulus FMAP funds tobe used for health care purposes.
•
Provides
$5
million for community safety net coverage for non-Medicaid or CHIP eligiblechildren.
•
Provides
$1.4
million for School-based health centers to increase access and enrollmentof CHIP-eligible children.
•
Tax of 1% on premiums collected by health plans and insurers; begins 10/01/09 andsunsets 9/30/13.
•
Jobs created and retained by expansion of health care in this manner
1,500
Two programs combined:
•
140,000
people
•
$412
tax revenue;
$790
Federal Funds for 09-11
$604
tax revenue;
$985
Federal Funds for 11-13
$1.02
billion tax revenue:
$1.78
billion Federal Funds over the 4 years
•
3,600
jobs
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