The leaders of the Senate Finance Committee – Chairman Orrin Hatch (R-UT) and ranking Democrat Ron Wyden (OR) – announced Tuesday they’ve made a deal to fund the Children’s Health Insurance Program, or CHIP, for another five years.
The 20-year-old program provides health coverage for more than 8 million children who live in low-income households but don't qualify for Medicaid. In 2015, CHIP spending totaled $13.7 billion, with the federal government picking up 71 percent of the cost.
The agreement, which phases out enhanced funding provided by the Affordable Care Act, needs to get through Congress before September 30, when the current appropriation runs out.
