CHIP Extension Act of 2014

[AI summary unavailable — showing source text] CHIP Extension Act of 2014 - Revises and extends through FY2019 at generally increased levels the program under title XXI (State Children's Health Insurance) (CHIP) of the Social Security Act (SSA), and adjusts CHIP allotment requirements accordingly, including the rebasing and growth factor update rules for computing state allotments. Sets forth new requirements for the enrollment and retention of children for fiscal years after FY2014. Establishes in the Treasury the CHIP Shortfall Fund, which shall be available without further appropriations for payments to shortfall states whose projected CHIP expenditures for the fiscal year will exceed a specified amount. Gives states the option to increase up to 26 the upper age limit for CHIP-eligible children with special health care needs. Requires a state to establish procedures to eliminate gaps in coverage and to assist a child's and pregnant woman's transition: (1)  from coverage under the state plan under SSA title XIX (Medicaid) or the state CHIP plan to coverage under a qualified health plan offered through an Exchange, and (2) from coverage under a qualified health plan to coverage under a state Medicaid or CHIP plan. Directs…