SPRINGFIELD -- Illinois hopes to get $600 million a year in federal health care funds under a hospital tax plan signed Sunday by Gov. Rod Blagojevich.I mean, I really don't understand it. It sounds like some sort of money laundering, investment scheme. I'm sure it isn't but I don't get it. At first, I thought the newspaper article was just unclear but later I heard the same story, told the same way, on WUIS.
The three-year program still must be approved by the U.S. Department of Health and Human Services. State officials are optimistic that it will be OK'd because the program is a revised and expanded version of one that has been used before, generating $430 million.
The program works by taxing Illinois hospitals and putting the money into the Medicaid program to qualify for federal matching funds. Then the original tax money and the extra federal money are returned to hospitals.
Someone please explain.