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New York’s 2024 Enacted Budget will provide a multi-year investment of $22 billion to support the State’s healthcare system.
This includes an additional $1 billion in healthcare capital funding for providers and expanded Medicaid benefits for more than 7.8 million low income residents of the Empire State. The 2024 Enacted Budget additionally boosts Medicaid reimbursement rates for inpatient hospital services, nursing homes, and outpatient services and assisted living providers, the biggest increases in two decades.
These changes are expected to result in a $1.2 billion annual gross benefit to healthcare providers, which is on top of a $500 million state investment to support financially distressed hospitals.
