Business Report: Medicare reimbursement, rebate checks, NJ Transit study

New Jersey’s hospitals are getting some added resources at a crucial time

Thanks to a change in the way Medicare reimburses for patient care, New Jersey’s hospitals will get close to $150 million in additional funding. Sen. Bob Menendez (D-NJ) and Rep. Bill Pascrell (D-9th) say the money will help address the doctor shortage in the state. The New Jersey Hospital Association concurs, saying the funding “levels the playing field for New Jersey” and will allow health systems to keep critical caregivers in the state.

More money is also in the pockets of some New Jersey residents. Over the past few weeks, the state has been mailing out to residents tax rebate checks of up to $500. Over 600,000 checks have been sent, and more are on the way, as 760,000 households are due to receive the funds. Eligibility is based on income and whether or not you have a dependent child.

NJ Transit is spending $3.5 million to explore a better way to access MetLife Stadium and American Dream mall. The new design would be called TransitWay. NJ Transit has hired a New York architectural firm called HNTB to design the project.

The Gateway Development Commission, Port Authority and NJ Transit Friday submitted an updated financial plan to the Federal Transit Administration for the long-awaited Hudson Tunnel Project, expressing confidence that more funding would be awarded. The new plan estimates the eight-year project will cost $12.3 billion to build. The transit groups are hoping to receive $5.6 billion in federal grants to cover that, which includes financing costs. The Gateway Commission says the project will create thousands of new jobs.

Correction: A previous version of this story incorrectly described the NJ Transit study. The concept design being considered aims to  improve frequency, trip time and hourly capacity between Secaucus and the Meadowlands. 

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