Beshear Plans Redirecting Surplus to Avert Medicaid Cuts
Kentucky Gov. Andy Beshear announced using $255 million from surplus and unexpected revenue, plus a $350 million July corporate tax payment, to close the Medicaid funding gap and reverse a 4% provider cut, affecting about 1 million Kentuckians this fiscal year. He says the move covers only the current year and long-term funding must be addressed by the General Assembly, while also pledging to deposit more than $400 million into the Rainy Day Fund by year-end, with projected growth exceeding a billion dollars in the fund as lawmakers remain divided on broader Medicaid financing.
