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Committee advances SB288 to use Medicaid expansion savings interest for provider rate increases
Summary
SB288 would allow the legislature to consider using annual interest from the ACA expansion savings account to fund provider rate increases and require notice before contract changes that increase provider costs. Stakeholders representing disability services, home health and health systems supported the approach.
Senator Kevin Stratton introduced SB288 to establish a mechanism for funding predictable Medicaid provider rate increases by capturing annual interest earned on Utah’s ACA expansion savings account rather than dipping into the account principal.
An unidentified representative from Lincoln Hill Partners explained the mechanics: the expansion savings account holds just under $400 million and is invested through the Public Treasurer’s Investment…
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