States navigate fiscal tightrope of post-pandemic Medicaid funding

They’re now responsible for a greater share of spending than in the past few years.
New York Gov. Kathy Hochul arrives to present her 2025 executive state budget in the Red Room at the state Capitol Tuesday, Jan. 16, 2024, in Albany, N.Y. (AP Photo/Hans Pennink)

States have so far avoided major fiscal problems as federal Covid-19 Medicaid funding expires, with budget analysts pointing in part to shrinking enrollment in the safety-net program.

That wasn’t a given heading into this year, said Geoff Buswick, a managing director and sector leader for U.S Public Finance Group at S&P Global, a credit rating agency.

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