What the health care bill means for Long Island

According to the final version of the health care overhaul that was reviewed by Newsday Thursday, prior to Sunday’s vote, the cash-strapped state of New York should receive a badly needed shot in the arm: billions of dollars in federal Medicaid money.

The bill also should have a potentially big impact on Long Island, according to Democrats on a key House committee: extending coverage to 161,000 uninsured residents, letting 243,000 young adults stay on their parents' insurance until age 26 and reducing hospitals' cost for treating uninsured people unable pay for their care by $328 million.

The final bill unveiled Thursday included a formula that will give New York a 50 percent boost in federal funds in 2014 and put it on par with all states in 2019.

Cuts to federal payments to hospitals for treating the poor: The bill unveiled cuts $3 billion less in Medicare payments and $4 billion less in Medicaid payments than the Senate bill.

Medicare Advantage: The new bill more slowly phases out subsidies to private insurers managing Medicare, freezing payments in 2014 and then lowering them after that.