Jindal administration draining elderly trust fund - KLFY News 10

Jindal administration draining elderly trust fund

Posted: Updated:

BATON ROUGE, La. (AP) - To cope with budget troubles, Gov. Bobby Jindal's administration has steadily depleted a trust fund for elderly services created with an infusion of federal cash a decade ago.

When Jindal took office, the Medicaid Trust Fund for the Elderly contained more than $830 million. Today, the balance has dropped to $410 million, according to the treasurer's office.

By the end of the current fiscal year, it is projected to sink to $250 million or less.

Officials involved with creating the fund expected the state to use largely the interest and investment earnings and leave the principal alone, so the fund would be available for decades.

Instead, the Jindal administration keeps dipping into the trust fund to plug health care budget gaps and finance Medicaid services at nursing homes.

Powered by WorldNow

1808 Eraste Landry Rd, PO Box 90665,
Lafayette LA 70509

Telephone: 337.981.4823
Fax: 337.984.8323
Email: tip10@klfy.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Young Broadcasting of Louisiana, Inc. A Media General Company.