Budget board OKs $100M SC Medicaid agency bailout
Tue, 22 Mar 2011 13:13:39 GMT —
COLUMBIA, S.C. (AP) - South Carolina's financial oversight board has approved a $100 million bailout for the state's Medicaid program.
The Budget and Control Board agreed Tuesday to allow state surpluses or reserves to cover the Department of Health and Human Services shortfall.
S tate Treasurer Curtis Loftis objected to the move, saying the bailout and the $100 million approved last month amount to increasing the budget of the agency and that is something only the Legislature should do.
Loftis lost the vote 4-1.
The Department of Health and Human Services says last month's bailout only gave it enough cash to pay doctors, hospitals and nursing homes through May 13. Officials told the board the agency still needs $25 million to cover its deficit.