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Joint fiscal office warns FMAP dips, HR 1 will shrink provider tax revenue by tens of millions
Summary
A Joint Fiscal Office presenter told the Health & Welfare committee that modest declines in the state's federal medical assistance percentage (FMAP) and federal changes from "HR 1" will reduce provider tax revenue and cost the general fund tens of millions over the next decade, requiring future budget tradeoffs.
Unidentified Joint Fiscal Office presenter explained how the federal medical assistance percentage (FMAP) and state provider taxes affect Vermont's Medicaid financing and general fund.
At the outset, the presenter placed Medicaid in budget context: the total state appropriation is about $9.2 billion and Medicaid spending is roughly $2.4 billion. "FMAP accounts for 62% of our total Medicaid budget," the presenter said, describing FMAP as the federal share that matches state Medicaid dollars.
The presenter outlined how FMAP is set (a three‑year average of state per‑capita personal income relative to the national average) and showed that the state's FMAP can fluctuate. He cautioned…
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