New York has reached an agreement on a federal waiver that will allow the state to reinvest Medicaid savings into its health care system and possibly save three struggling Brooklyn hospitals.
"Today we have reached an agreement in principle with the federal government that will allow New York to reinvest $8 billion in savings to transform New York’s health care system," Gov. Andrew Cuomo said in a statement on Thursday.
The governor has been pushing for the waiver since August 2012, though the $8 billion over five years is less than the $10 billion the state sought in its original request.
Still, the money could save Brookdale Hospital, Interfaith Medical Center and Wyckoff Medical Center in Brooklyn from shutting down.
"While the state will be reviewing the terms and conditions of this agreement, it is clearly the biggest step forward towards a positive conclusion for our communities, particularly in Brooklyn, that have suffered from diminishing health care services," Cuomo said.
"Securing this waiver will address those needs, allowing us to increase access and improve the quality of care for New Yorkers while making New York’s health care system a model for the entire nation."