CBO Slashes Price Tag For Renewing CHIP Funding For Five Years
One of the sticking points for lawmakers has been how to pay for the funding. Previously they were going to have to find about $8 billion over 10 years to offset it, but the Congressional Budget Office has now revised this price tag to $800 million.
The Associated Press:
Budget Office Cuts Cost Estimate Of Children's Insurance
Congress' official budget analysts have eased one stumbling block to lawmakers' fight over renewing a program that provides health insurance for nearly 9 million low-income children. The Congressional Budget Office says a Senate bill adding five years of financing to the program would cost $800 million. Previously, the analysts estimated it would cost $8.2 billion. That means lawmakers should find it much easier to agree to a way to pay for extending the program. (Fram, 1/8)
Roll Call:
CBO: Cost Of CHIP Renewal Smaller Than Projected
In a four-page letter to Senate Finance Chairman Orrin G. Hatch, CBO Director Keith Hall said the Senate CHIP bill would cost $800 million over 10 years. Prior to this, the CHIP bill needed to be offset by about $8 billion over 10 years. The total cost of CHIP over 10 years would be $48.4 billion, but decreases in Medicaid and health care marketplace spending would offset much of that amount. Lawmakers in both chambers and in both parties have agreed to renew CHIP for five years, but a dispute over how to pay for it has been the main issue delaying passage. House Republicans suggested a number of offsets that would change Medicaid, Medicare and the existing federal Prevention and Public Health fund established under the 2010 health care law as part of a CHIP bill that the House passed mostly along party lines. House and Senate Democrats largely opposed these offsets. (Raman, 1/8)
Meanwhile —
Richmond Times-Dispatch:
Virginia Receives Brief Relief For Children's Health Insurance, But End Still Looms
Virginia Medicaid Director Cindi B. Jones told legislators on Monday that the state had received additional federal money to allow the program to continue through Feb. 28 rather than end on Jan. 31, as it had warned affected families last month. Jones and her staff at the Department of Medical Assistance Services are still counting on Congress to reauthorize the program before a continuing federal budget resolution expires on Jan. 19. (Martz, 1/8)
