Florida’s Medicaid program provides health care coverage and services to over two million state residents and is the single largest source of federal money for the state. This issue brief highlights that any major changes to the way Medicaid is financed could have serious implications for Medicaid beneficiaries, providers, and the state’s health care system as a whole. It also specifically examines the implications of a possible cap on the amount of federal funding available for Florida’s Medicaid program.