Finch Reveals Anticipated Medicaid Savings For Counties

Assemblyman Gary D. Finch (R,C-Springport) today said Medicaid savings for the counties throughout his 123rd Assembly District is expected to surpass $1.7 million during the state’s current fiscal year, and amount to nearly $9 million the next year.

The recently released figures covering a two-year period are designed to help officials from the five counties plan their upcoming annual budgets.

"My Assembly Minority colleagues and I have been fighting for years to implement reforms to New York’s faulty Medicaid system," said Finch. "With the help of Gov. George Pataki, we have finally made some real progress in reducing the burden placed on our property taxpayers by Medicaid."

The plan to cap county Medicaid expenses, to be phased in over five years, will save New York counties a total of $6.5 billion. The program also establishes a cap on each county’s share of 3 percent by 2008.

Finch concluded, "We have worked hard to get this program passed, and to save our counties and taxpayers millions of dollars. In addition, our counties, schools, hospitals and libraries will be able to more effectively draft annual budgets and our taxpayers will not be surprised year after year with astronomical property tax increases."