HI HB1943

Directs the Department of Human Services to apply an annual inflation adjustment factor to long-term care facilities' provider-specific prospective payment rates for Medicaid reimbursement.

Sets the inflation adjustment factor equal to the reimbursement rate approved by the federal government in the Medicaid state plan.

Limits the cost increase to fiscal year 2016-2017 only, with the Act repealing on June 30, 2017.

Appropriates $1,553,559 from general revenues for fiscal year 2016-2017 to fund the inflationary adjustment to long-term care facilities' reimbursement rates.

Addresses financial challenges facing long-term care facilities caused by Medicaid reimbursement rates that do not cover actual care costs, with approximately 70% of facility patients covered by state Medicaid.