Senate voted to avoid medical insurance cuts to providers
On Thursday night, the Senate voted 59-34 to avoid the upcoming medical insurance reduce The provider sends the legislation to President Biden’s desk for signature.
The highly anticipated vote took place a few weeks before the cuts took effect, and as lawmakers finalized the agreement, suppliers were in a state of tension.
this billA bill passed by the House of Representatives earlier this week will postpone the 2% reduction in medical insurance rates until March 2022 and postpone another round of 4% medical insurance reduction plans to 2023, totaling approximately US$36 billion.
The 2% reduction stems from the 2011 budget seizure law, which requires that the entire federal government’s expenditures be reduced starting in 2013. Congress last year suspended the cuts in response to COVID-19. The bill passed on Thursday will be suspended until April 1, after which suppliers will cut 1% by June 30 and 2% before the quarantine expires in 2013.
The 4% reduction in health insurance is the result of a budget law called PAYGO, which requires increasing revenue or reducing expenditure to offset the increase in the deficit. COVID-19 relief pack The bill enacted this year resulted in a larger budget deficit, which in turn led to a reduction in spending.
The bill also includes a 3% increase in the salaries of providers paid under the medical insurance physician fee schedule, partially alleviating some of the cuts that will take effect next year.
Suppliers have been urging Congress throughout the year to avoid cuts, believing that they are still struggling financially under COVID-19.