CMS updates Basic Health Program funding formula for states

The Centers for Medicare & Medicaid Services yesterday announced revised federal funding methodologies for the Basic Health Program under the American Rescue Plan Act. New York and Minnesota are currently the only states operating a BHP, an Affordable Care Act option for states to cover low-income residents ineligible for Medicaid and CHIP. Under the updated formula, New York will receive an estimated $750 million and Minnesota an estimated $100 million in additional funding for their programs in 2022, as well as additional funds for 2020 and 2021, CMS said.