Maine’s 39 hospitals are owed more than $484 million in backlogged Medicaid payments. The bond sale will produce $184 million in Medicaid dollars, which will trigger a federal match of roughly $300 million, according to Gov. Paul LePage’s office. Hospitals are expected to see payments throughout the month.
“With the sale of the liquor revenue bond, Maine hospitals are now just weeks away from being repaid the more than $484 million in welfare debt owed to them,” Gov. LePage said in a news release. “This is good news for these employers and their local communities.”
Two weeks ago, Standard & Poor’s Ratings Services and Moody’s Investors Service each assigned ratings to the revenue bond.
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