Posts Tagged ‘$500 billion cuts’
August 1, 2012
Health Care News
Obamacare Robs Medicare of $716 Billion to Fund Itself
Last week, a new Congressional Budget Office (CBO) report updated the amount of money Obamacare robs out of Medicare from $500 billion to a whopping $716 billion between 2013 and 2022.
According to the CBO, the payment cuts in Medicare include:
- A $260 billion payment cut for hospital services.
- A $39 billion payment cut for skilled nursing services.
- A $17 billion payment cut for hospice services.
- A $66 billion payment cut for home health services.
- A $33 billion payment cut for all other services.
- A $156 billion cut in payment rates in Medicare Advantage (MA); $156 billion is before considering interactions with other provisions. The House Ways and Means Committee was able to include interactions with other provisions, estimating the cuts to MA to be even higher, coming in at $308 billion.
Read the rest on The Foundry…
Tags: $500 billion cuts, Congressional Budget Office, hospital services, Medicare, Medicare Advantage, ObamaCare, rob
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