Bush Signs SCHIP Extension Act of 2007

President Bush today signed Medicare, Medicaid, and SCHIP Extension Act of 2007, which besides providing other affordable health insurance coverage benefits(such as Medicare and Medicaid), extends State Children's Health Insurance Program (SCHIP) through March 31, 2009.

The White House on Medicare, Medicaid, and SCHIP Extension Act of 2007

"On Saturday, December 29, 2007, the President signed into law: S. 2499, the "Medicare, Medicaid, and SCHIP Extension Act of 2007," which Provides a 0.5 percent Medicare payment increase for physicians for 6 months; (2) extends SCHIP through March 31, 2009; and (3) extends the Medicaid Qualifying Individual provision, Title V Abstinence Education grant program, and Transitional Medical Assistance eligibility for Medicaid beneficiaries for 6 months."

The State Children's Health Insurance Program (SCHIP)*, created by the Balanced Budget Act of 1997, enacted Title XXI of the Social Security Act and allocated about $20 billion over ten years to help states insure more children. The law authorizes states to provide health care coverage to "targeted low-income children" who are not eligible for Medicaid and who are uninsured. States receive an enhanced federal match (greater than the state's Medicaid match) and have three years to expend each year's allotment.

* Source: The National Conference of State Legislatures