Medicare payments could be subject to a drastic reduction

Medicare payments could be subject to a drastic reduction -

Medicare payments to doctors can be compromised, depending on the outcome of the budget negotiations the cliff. A huge 26.5 percent cut in Medicare physician payments program, commonly known approach in the health care industry as the "doc fix" could become a reality on 1 January 2013.

last week, the House of representatives approved a measure to maintain cross sections of the board to Medicare payments, and subsequently created a veto threat of legislation from the white House. The bill, which keeps about $ 11 billion in payment reductions for 2013, as well as sharp declines in Medicaid, came under fire from health care providers as well.

While Congress led off the fee reduction over the past years, the notable lack of action in DC in the last year has concerned the American Medical Association. There is certainly reason for doctors to be alarmed when juxtaposed against the last few years. Recent inaction in D.C. on related issues this year has raised concerns for WADA. Currently, one third of doctors who treat Medicare patients refuse to accept new patients, according to the AMA.

Some industry experts have stated that this trend could have devastating financial consequences for the practices of physicians in particular. Physicians who treat Medicare patients to lose a significant amount of revenue - and losses could start on 1 January, while the Obama administration has informed doctors it will not delay the processing of health insurance claims

consumers could. suffer in several ways if the cuts remain in place. For example, according to the Heritage Center for Data Analysis calculations, under the regulations of the ACA, an individual with a $ 85,000 income in 2017 that is included in Part B and Part D would increase the combined premium of $ 874.44 for that year. A married couple with a $ 170,000 income in 2017 enrolled in Part B and Part D would be subject to an increase in combined premium of $ 1,748 for this year.

Cuts could lead doctors leaving the health plan networks, as they have an impact on how much health plans are able to pay the doctors. Health insurance companies have warned that the cuts could result in the loss of 500,000 jobs in the health care industry - worsening doctor shortage projected for the future

As always, GoHealth is interested in what you have to say .. are you concerned about the fiscal cliff and the future of Medicare? Add your comments below.

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