Schumer: NY to get $1B under new health bill

ALBANY, N.Y. (AP) — Sen. Charles Schumer says a change in a massive Medicaid bill in Washington will save New York $1 billion.

Gov. David Paterson has said the change is critical as the state addresses projected multibillion dollar deficits.

Schumer pushed for the change that would increase the reimbursement New York and 11 more states get from the federal government for Medicaid coverage of the poor.

Currently, the state gets 50 percent back, but under the agreement announced Thursday the reimbursement will rise to 75 percent in 2014 and 93 percent five years later.

The reconciliation bill is the result of negotiations from an original bill to an agreement between the House and Senate.