CHIP Renewed for 6 More Years
Posted on Monday, January 29, 2018 1:42 PM
President Trump signed a bill that extends funding for the Children’s Health Insurance Program for the next six years.
The program has always had bipartisan support; however, its renewal became a bargaining chip in the latest federal budget. “Prospects for a CHIP deal brightened earlier this month when the Congressional Budget Office re-estimated how much the extension of funding for the program would cost. In a letter to Senate Finance Committee Chairman Orrin Hatch (R-Utah) on Jan. 5, CBO said changes to health care made in the tax bill would result in lowering the five-year cost of the program from $8.2 billion to $800 million — effectively a reduction of 90 percent.” The reason being that the tax bill passed in December eliminated the ACA’s individual mandate which would drive up premiums. The higher premiums, would increase the federal premium subsidiaries for those with qualifying incomes. The result would be a substantial decrease in the deficit. That made it easy for Republicans to support.
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Kaiser Health News is a nonprofit news service covering health issues. It is an editorially independent program of the Kaiser Family Foundation that is not affiliated with Kaiser Permanente
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