On Tuesday, the chairman of the Senate Finance Committee and the top Democrat on the panel announced that they had reached an agreement to prevent the exhaustion of federal funds for the Children’s Health Insurance Program.
The $7 billion dollar program provides health coverage to around 8 million low-income children and pregnant woman.
Congress has finalized and approved the agreement that will phase out extra federal funds. The deal that was made between Republicans and Democrats is to extend financing for the popular children’s insurance program for five more years.
With it, the financial partnership between the federal government and the states will be gradually restored. Both forms of government will share the cost of the program.
By doing so, the new agreement will prevent a cash crunch at the end of this month when the federal-state program expires.
Since the program was created, the proportion of children who are uninsured has fallen to less than 5 percent today.
If you want both you and your children to be covered by an insurer, contact Cosmo Insurance Agency today. Cosmo's team of experienced broker's will find the best plan designed just for you.