As part of the Affordable Care Act, the Centers for Medicare and Medicaid Services has awarded a $110.1 million federal grant to New Jersey.

President Barack Obama at a rally celebrating the final passage of the Patient Protection and Affordable Care Act. (Dennis Brack-Pool, Getty Images)

"This grant will give Medicare beneficiaries options regarding their long-term care, including getting folks out of institutionalized settings and back into their homes," said U.S. Representative Bill Pascrell, Jr. of New Jersey. "The Affordable Care Act is about lowering costs and improving efficiency, and this grant will ensure that New Jersey remains on the forefront of healthcare innovation."

The grant can be utilized from April 1, 2013 to September 30, 2015.