California Takes Out $3.44 Billion Loan to Pay Growing Medi-Cal Costs

California borrowed $3.44 billion this month to pay for cost overruns for its state-funded health care plan, the finance department reported on March 12.
The loan drew criticism from some lawmakers as they blamed the state’s decision last year to fund health care costs for illegal immigrants.
Gov. Gavin Newsom’s office said the claim was not accurate.
“This isn’t new—as the administration already outlined in the Governor’s January budget proposal, additional funding is needed to support Medi-Cal,” a spokesman for Newsom told The Epoch Times in an email on Thursday. “Rising Medicaid costs are a national challenge, affecting both red and blue states alike. This is not unique to California.”…