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Proposition 35 would spell out how the tax on health insurance providers like Anthem Blue Cross and L.A. Care, known as managed care organizations, can be used.
Proposition 35, titled Managed Care Organization Tax Authorization Initiative, was a successful California ballot proposition in the 2024 general election on November 5. [1] The proposition makes permanent an existing tax on managed health care insurance plans to fund Medi-Cal services pending federal approval.
The California Medical Assistance Program (Medi-Cal) is California's Medicaid program serving low-income families, seniors, persons with disabilities, children in foster care, pregnant women, and childless adults with incomes below 138% of federal poverty level.
Medi-Cal was created in 1965 by the California Medical Assistance Program a few months after the national legislation was passed. [2] Approximately 15.28 million people were enrolled in Medi-Cal as of September 2022, [3] or about 40% of California's population; in most counties, more than half of eligible residents were enrolled as of 2020. [4]
To lower your overall tax burden, learn exactly what qualifies as a deductible medical expense and how to calculate your tax deduction for medical care. Medical Expenses You Can Deduct From Your Taxes
The MCO tax allows California to draw down additional federal money to help fund Medi-Cal, the state’s version of the Medicaid program that provides health insurance for low-income residents.
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