Last week President Barack Obama announced in a meeting with the nation’s governors that States would be able to access the first two quarters of Federal Medical Assistance Percentage funding (FMAP) – the federal match for Medicaid – starting Feb. 25.
Missouri is eligible for $270,528,865 under the bill. Obama said that overall more than $15 billion in federal assistance for Medicaid programs would be distributed under the Recovery Act.
FMAP funding helps pay for health care for families hit hard by the economic crisis and some of the nation’s most vulnerable citizens. More than 49 million Americans rely on Medicaid for health care coverage and this funding could help 20 million more Americans get covered.
The first two quarters of FY 2009 funding for states has been set up in Treasury accounts so that states, the District of Columbia, and the territories can start drawing down on those funds. The temporary increase in funding will be administered by the Department of Health and Human Services’ Centers for Medicare & Medicaid Services (CMS).
States will need to meet Medicaid eligibility requirements to receive the new funding. CMS will be working with the States to ensure they meet the requirements.