California's Legislature approved a new tax on health insurance plans Monday in order to maintain federal funding for Medi-Cal. The legislation now advances to Gov. Jerry Brown.
The deal involves a complex tax swap on managed-care organizations that lawmakers said was necessary in order to maintain over $1 billion in annual federal spending on Medi-Cal, the state's health care program for the poor. Business groups, including the California Chamber of Commerce, did not oppose the plan after receiving…California's Legislature approved a new tax on health insurance plans Monday in order to maintain federal funding for Medi-Cal. The legislation now advances to Gov. Jerry Brown.
The deal involves a complex tax swap on managed-care organizations that lawmakers said was necessary in order to maintain over $1 billion in annual federal spending on Medi-Cal, the state's health care program for the poor. Business groups, including the California Chamber of Commerce, did not oppose the plan after receiving…