New York has officially filed a Medicaid 115 waiver (pdf) with the federal government to reinvest $10 billion of Medicaid savings back into the state's healthcare system.
New York recently applied a Medicaid global spending cap as part of Gov. Andrew Cuomo's Medicaid Redesign Team, which went into effect in January 2011. Currently, the state estimates the first phase of MRT cost-saving initiatives will save the federal government $17.1 billion over the next five years.
The waiver requests that the federal government allow New York to keep and reinvest $10 billion of the $17.1 billion in federal savings over a five-year period.
"The waiver amendment will allow the state to reinvest in its healthcare infrastructure that will both lower Medicaid costs and ensure that the 1 million newly-insured New Yorkers will have access to cost-effective health care services," according to the waiver.
Specific details were not provided on when the federal government would review the waiver, according to a Democrat and Chronicle report. However, New York officials expect it to be approved, hopefully before April 1, 2013.
New York recently applied a Medicaid global spending cap as part of Gov. Andrew Cuomo's Medicaid Redesign Team, which went into effect in January 2011. Currently, the state estimates the first phase of MRT cost-saving initiatives will save the federal government $17.1 billion over the next five years.
The waiver requests that the federal government allow New York to keep and reinvest $10 billion of the $17.1 billion in federal savings over a five-year period.
"The waiver amendment will allow the state to reinvest in its healthcare infrastructure that will both lower Medicaid costs and ensure that the 1 million newly-insured New Yorkers will have access to cost-effective health care services," according to the waiver.
Specific details were not provided on when the federal government would review the waiver, according to a Democrat and Chronicle report. However, New York officials expect it to be approved, hopefully before April 1, 2013.
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