Cash-strapped Illinois is facing $10 million a year in lost revenue caused by a tax-break for investor-owned hospitals. According to the Daily Herald, hospital industry officials say the tax credit recognizes the free care they provide to the uninsured, but some state officials were puzzled about how for-profit hospitals were able to land a major tax break in the intense closed-door negotiations during a statewide financial crisis.
Illinois Governor, Pat Quinn, singed a package of $2.7 billion in cuts and tax increases back in June that were supposed to save the state program for healthcare funding to the poor and disabled. The result was the loss of coverage for thousands of working families and hospitals facing tougher rules for providing free care to patients who don’t qualify for Medicaid. Officials statewide are up in arms with the loss in revenue and its affect on citizens.
To read the full article from the Daily Herald, click here.