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March 1, 2008
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Medicaid and CHIP
Medicaid provides medical care for certain poor and low-income people, and Children's Health Insurance Program (CHIP) provides coverage for children in low-income families that do not qualify for Medicaid. Federal spending for Medicaid and CHIP was about $251 billion and $9 billion, respectively, in 2012. CBO projects that federal Medicaid spending will rise rapidly over the coming decades because of expanding eligibility under the Affordable Care Act, the aging of the population, and rising costs per beneficiary.