Providers worry over debt-reduction panel
Senate Finance Committee Chairman Max Baucus (D-MT)
This committee of six Republicans and six Democrats must trim federal budget deficits by at least $1.5 trillion over 10 years, or risk triggering mandatory 2% cuts for programs such as Medicare. Possible changes could include raising the Medicare eligibility age to 67 or cutting Medicare prescription drug payments, which the White House says could save $200 billion over 10 years.
LeadingAge is keeping a close watch on the committee, especially whether the CLASS Act will be a bargaining chip, said Cheryl Phillips, M.D., LeadingAge's senior vice president for advocacy.
Committee members include Senate Finance Chairman Max Baucus (D-MT); Sen. John Kerry (D-MA); House Ways and Means Chairman David Camp (R-MI); and House Energy and Commerce Chairman Fred Upton (R-MI).