President Obama has signed into law legislation extending stimulus funding to states. One of the provisions in this bill includes 16.1 billon dollars in Federal Medical Assistance Percentages (FMAP) of which, Iowa is expected to receive approximately 128 million for the state’s Medicaid program.
This comes at a great time as it will give a six month extension to the FMAP assistance from the American Recovery and Reinvestment Act of 2009, which is expected to end on December 31, 2010. This legislation helps the states as they are all experiencing shortfalls in their economies and trying to balance their budgets at the same time. Many states were going to have to cut Medicaid funding without the passage of this bill.
More information from national pharmacy organizations:
