SB 1562 Medicaid Supplemental Rate Fund; created

About SB-1562

Medicaid Supplemental Rate Fund. Creates the Medicaid Supplemental Rate Fund (the Fund) as a subfund of the Virginia Health Care Fund. Moneys in the Fund will be used to raise base Medicaid reimbursement rates for hospitals and health care providers in the Commonwealth. The bill requires nonprofit hospitals with over $300 million in annual revenues to pay state and local sales and use taxes, and such sales tax revenues will be deposited into the Fund. Nonprofit hospitals are currently exempt from paying state and local sales and use tax.