California will borrow $3.44 billion this month to keep its Medicaid program afloat as costs for the state’s healthcare expansion,

California will borrow $3.44 billion this month to keep its Medicaid program afloat as costs for the state’s healthcare expansion, which includes coverage for illegal immigrants, continue to surge. The emergency loan,

Gov. Gavin Newsom's Department of Finance on Wednesday notified state lawmakers that California will need a $3.44 billion loan to cover costs associated with the state's Medicaid program known as Medi-Cal.

California is in need of a $3.44 billion loan to cover a shortfall in "Medi-Cal," which is the state's Medicaid program, according to reports.