July 7, 2023
California’s Health Plan Tax
Last week, California Governor, Gavin Newsom, signed into law S.B. 101 Budget Act of 2023, a budget deal which would raise up to $19 billion in tax revenue from a renewed tax on health insurance companies. According to officials who worked with stakeholders to structure the plan, once federal funds are factored in, the state will be able to spend over $35 billion total in health care services. This would be the state’s largest-ever investment in what is the nation’s largest Medicaid system, Medi-Cal – which services nearly 16 million Californians. Click here to read more.