President Barack Obama told some of the nation's governors Monday that the first round of stimulus funding is on the way to their home states from Washington.

The first part of the $787 billion stimulus package will be $15 billion for state to help pay their Medicaid bills, Obama said, and some of that money will be doled out in just two days.

"I'm announcing today that this Wednesday, our administration will begin distributing more than $15 billion in federal assistance under the Recovery Act to help you cover the costs of your Medicaid programs--I know something that is going to be of great relief to many of you," the president said.

"These funds are intended to go directly towards helping struggling Americans keep their health coverage, we want to make sure that's what's happening and we're going to work with you closely to make sure that this money is spent the way it's supposed to," Obama said.

More than 20 million Americans rely on Medicaid for health care coverage, according to the White House, and the $15 billion payment is meant to keep states, which are suffering huge budget gaps, from cutting back on health care services.

The Health and Human Services Department broke down the Medicaid payments by state. New York will receive the largest slice at $2,070,832,598, followed by the $1,991,907,534 California will get.

Wyoming will see the smallest amount at $15,922,133, with North and South Dakota getting slightly more.