Pennsylvania homes to receive $1 billion in fed funds over four years

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Pennsylvania Gov. Edward G. Rendell (D) and U.S. Sen. Arlen Specter (R-PA) said that the government will approve a nursing home assessment plan that will provide an additional $1 billion in federal funding to the state's nursing homes over the next four years.

The plan was agreed upon by the state and the federal Centers for Medicare & Medicaid Services, according to a press release issued last week.

The agreement will generate more than $300 million in additional federal Medicaid revenues annually. Slightly less than $300 million in assessment payments will go to nursing homes.

Based on current estimates, 78% of nursing homes in Pennsylvania will benefit from the assessment with an average gain per facility of $267,000.