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Medicaid Program Will Cost New Mexico $63 Million More Next Year

 

SANTA FE, N.M. (AP) — New Mexico's Medicaid program will cost state taxpayers an additional $63 million next year.

The Santa Fe New Mexican reports the federal government is scaling back the share it pays to cover many New Mexican residents under the health insurance program.

The federal government covered 93 percent of costs this year but will pay 90 percent in the budget year that begins in July.

Human Services Secretary Brent Earnest says that alone will cost the state an extra $32.5 million.

The total cost of the program will rise for other reasons, too, such as the federal government rolling back some financial support for children's health insurance and rising enrollment.

With all of this, Medicaid's cost to the state general fund is projected to increase to a total of $997 million in the next fiscal year.

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Information from: The Santa Fe New Mexican, http://www.santafenewmexican.com