Feds approve $8 billion Medicaid waiver, substantial funds headed to Brooklyn hospitals
Which hospitals will benefit still unknown
Gov. Andrew Cuomo and Sen. Charles Schumer announced late on Thursday that that New York’s ‘Medicaid waiver’ has finally has been approved, and that the state will receive $8 billion from the federal Department of Health and Human Services.
The original waiver application, made more than 18 months ago, amounted to $10 billion, of which $1 billion was earmarked for Brooklyn’s struggling hospitals.The money comes from savings generated over five years by New York’s Medicaid Redesign Team.
Gov. Cuomo said in a statement that New York would reinvest the $8 billion to transform the state’s health care system and “preserve vital health services in Brooklyn and other parts of the state including struggling hospitals.”