Synopsis As Introduced Amends the Children's Health Insurance Program Act and the Covering ALL KIDS Health Insurance Act. In the provisions concerning eligibility for the KidCare and Covering ALL KIDS programs, sets an asset limit of $10,000, excluding the value of the child's residence and the value of a vehicle (other than a recreational vehicle) used by the household. Makes changes concerning the reporting of changes in income and other circumstances that affect eligibility. Requires the Department of Healthcare and Family Services to seek a waiver of federal requirements under the Patient Protection and Affordable Care Act in order to allow the Department to immediately implement the changes made by the amendatory Act. Effective immediately.