Virginia Health Reform Initiative

Virginia Secretary of Health and Human Resources Dr. Bill Hazel announced Friday the establishment of a statewide health reform initiative.

The intent of the Health Care Reform Initiative, which will be within the Health and Human Resources Secretariat, is to prepare Virginia for the implementation of federal health reform by planning for the expansion of Medicaid eligibility.

It is estimated that this expansion will increase the number of Medicaid enrollees in Virginia from 270,000 to 425,000, at a cost of $1.5 billion between 2017 and 2022. There exists a pressing need for the Commonwealth to begin planning for the implementation of federal Health Care Reform, while also implementing other innovative health care solutions.

Speaking about the Health Care Reform Initiative, Hazel remarks, “Expanding access to reasonably priced high quality and safe health care is a bipartisan goal. The Commonwealth must make it easier for Virginians to be healthier and to purchase and retain health insurance.

"Virginia is one of many states challenging the Patient Protection and Affordable Care Act and the Health care and Education Affordability Reconciliation Act. However this lawsuit could take two to three years to be settled. As we wait for court decisions, the Commonwealth must comply with the acts and begin preparing for implementation of federal health care reform.

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Monday Morning Cup of Coffee

A look at stories across HousingWire’s weekend desk…with more coverage to come on bigger issues:

Regulators closed seven banks Friday, at a cost of more than $7.33bn to the Federal Deposit Insurance Corp. (FDIC) Deposit Insurance Fund (DIF). That brings the 2010 total of bank closing through the first four months of the year to 64. In 2009, there were 29 bank closings from January through April.

The Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico closed three banks. As HousingWire previously reported, analytics firm Trepp believes the FDIC is focusing its resources toward one problematic region at a time. Last week it was Illinois, and as Trepp partner Foresight Analytics projected, this week it was Puerto Rico. The three bank closures there accounted for $5.28bn of the DIF cost.

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