Medicare spending encompasses an unsustainable 16 percent of the federal budget. Over the last decade (2000-2011), Medicare spending per capita grew at a rate double that of per capita GDP growth.
December 10th is the expected date on a vote on the final rule for the long awaited language of the “Volcker Rule.” The Wall Street Journal reports that “U.S. regulators are expected to approve next week a toughened version of the Volcker rule, ushering in an era of stricter oversight for Wall Street with restrictions on the trading banks can do with their own money.”
American Action Forum President Doug Holtz-Eakin’s Testimony on the ACA’s Medicare Advantage Cuts before the U.S. House of Representatives Energy and Commerce Subcommittee on Health.
With each passing day, more information is revealed regarding the negative effects the Affordable Care Act (ACA) is having on American citizens, the health insurance industry, and the health care system as a whole.
A recent study by the HHS Office of the Inspector General (OIG) reveals that from 2009 to 2011, Medicare spent nearly $30 million on Part D benefits for people unlawfully living in the United States.
Health-care reform has been a pivotal undertaking by the last two administrations and many more before that.
Reuters reports this morning that concerns over the fiscal debate has hit U.S. debt issuance plans. “The U.S. Treasury put on hold reductions in the size of some of its debt auctions on Wednesday out of concern that last month's fiscal policy showdown hurt the economy and could slow progress in reducing the deficit. A strengthening recovery and budget austerity have helped America slash its budget deficit, but growth has probably suffered of late as a political impasse led to a partial government shutdown and raised the specter of a debt default”
How Medicare Part D Works
New guidance issued by the Centers for Medicare and Medicaid Services (CMS) gives hospitals a grace-period where a significant number of claims will not be audited; this may result in overpayments going unnoticed and place the Medicare trust fund in even more trouble.
A recent study by the Congressional Budget Office (CBO) reveals that Medicare premium support models could significantly reduce the costs of the program for both the federal government and beneficiaries. Under the two reform models evaluated, Medicare beneficiaries would have the option to purchase coverage in a competitive market-like system, selecting between the fee-for-service Medicare program and private health plans offering the same benefits as the traditional program.