If the federal medical assistance percentage for medical services provided to individuals eligible for medicaid-funded services pursuant to 53-6-1304 is set below the levels established in 42 U.S.C. 1396d(y)(1) on the effective date of this section, the continuation of coverage under this part is contingent on:
(1) the appropriation of additional state general fund or other action by the legislature;
(2) the ability of the department to increase premiums assessed under 53-6-1307 to pay the difference; or
(3) a combination of legislative action and premium increases as necessary to provide for the increased state match obligation.