Schenectady County settles Medicaid fraud suit

"Bristol-Myers Squib is one of the country's biggest drug companies," said Gardner. "A settlement from them sets the tone for the other companies involved."

Bristol-Myers Squibb Company is a global biopharmaceutical and related health-care products company headquartered in New York City.

The Medicaid program provides medical services to low-income families and individuals. Counties in the state are responsible for paying 25 percent of the Medicaid costs for residents. The state also funds 25 percent of Medicaid expenses. The federal government funds the remaining 50 percent of the costs. New York is one of only two states that mandate counties to pay a substantial portion of Medicaid expenses.

In 2008, county taxpayers are budgeted to pay approximately $30.6 million in property taxes for Medicaid.


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