CO SB308

Creates two new cash funds to reinvest savings from federal Medicaid authorizations: the Health-Related Social Needs Reinvestment Cash Fund and the Reentry Services for Justice-Involved Individuals Reinvestment Cash Fund, with annual transfers beginning June 30, 2026

Requires the Department of Health Care Policy and Financing to present annual spending recommendations to the Joint Budget Committee starting November 1, 2025, for expanding services authorized under federal Medicaid waivers

Appropriates $14,971,442 for FY 2025-26 to implement health-related social needs and reentry services, including $12,191,459 from the general fund and $2,779,983 from cash funds, with an anticipated $15,116,936 in federal matching funds

Authorizes the Department of Health Care Policy and Financing to spend money from the Affordable Housing Support Fund for health-related social needs services covered under federal Medicaid authorization

Directs the state department to develop a peer support services workforce to comply with federal authorization requirements for health-related social needs coverage