$95M in tax funding at stake for University of New Mexico Hospital

The University of New Mexico Hospital in Albuquerque may face a $95 million loss in tax funds if voters agree to discontinue an eight-year property tax for the hospital this November, Albuquerque Journal reports.

Advertisement

Funds generated from the tax help cover UNM Hospital’s maintenance and operating costs. Hospital CEO Steve McKernan said the hospital usually garners voter support.

Opponents of the tax, including State Rep. Bill Rehm (R-Albuquerque), argue the hospital is no longer in need of the funding in light of increased Medicaid reimbursements. UNM Hospital saw uncompensated care cost decrease from $84.5 million to $73.4 million between fiscal years 2015 and 2016, according to the report.  

Mr. McKernan said Medicaid reimbursements do not cover all services UNM Hospital provides to low-income communities and those with high-deductible premium plans.   

More articles about healthcare finance:
Moody’s assigns ‘MIG 1’ rating to United Hospital District’s BANs
12 latest hospital credit rating downgrades
Moody’s assigns ‘A2’ rating to United Hospital District’s bonds

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.