Ohio to Receive $513 Million for Medicaid; Also Gets $1 Million For Health Insurance Oversight

Ohio is  set to receive approximately $513.8 million to extend enhanced federal matching funds for Medicaid as a result of Congress approving the FMAP Bill. This money comes as part of a package that will give Ohio more than $880 million in economic aid.  The funds will help fill the shortfall in the state next fiscal year budget, which is expected to be around $8.4 billion due to reliance on one-time funds used to balance the last budget. 

Under another five year-plan to hold down healthcare costs, Ohio will an additional $1 million from the Health and Human Services Depatertment (HHS)  "to help improve the oversight of proposed health insurance premium increases, take action against insurers seeking unreasonable rate hikes, and ensure Ohioans receive value for their premium dollars."

Ohio  plans to use the money to improve the review process for individual health insurance premium rate filings and to give consumers more web accessible information about HMO premium rate filings so they can see what plans are increasing premiums and by how much