Budget deal extends Medicare's 2% cuts
Rep. Paul Ryan (R-WI) and Sen. Patty Murray (D-WA) helped forge a bipartisan budget compromise.
Long-term care providers face an additional two years of reduced Medicare reimbursements under a federal budget compromise hammered out in December.
Under the deal, 2% Medicare reimbursement cuts implemented in 2013 will not end until 2023 — two years after originally scheduled. This is meant to offset increased spending as other programs get relief from the across-the-board cuts known as sequestration.
Rep. Paul Ryan (R-WI) and Sen. Patty Murray (D-WA), the leaders of their respective budget committees, stressed that passage would prevent continuing political crises. Their argument helped propel the bill through Congress and was cited by leaders of prominent long-term care associations.
LeadingAge CEO and President Larry Minnix expressed hope that Medicare and Medicaid payments now will remain stable during the two-year budget period.