How Obamacare’s $700 Billion Cut Will Impact Medicare

How Obamacare’s $700 Billion Cut Will Impact Medicare

In August 2012, the presidential candidate Governor Mitt Romney was offended by the $700 billion drug cuts of President Obama. Although Senate Vice President Paul Ryan of Wisconsin has stated that Medicare must be transformed and policies to cut $700 billion in future Medicare expenses, Obamacare would cut about $716 billion over a 10-year period. So now there is much speculation about how the $700 billion cuts in Obamacare will affect Medicare. To get Obamacare to pass, President Obama proposed $ 700 billion in extremely arbitrary general cuts. The Medicare plan quotes can be found on https://www.medicareadvantage2019.org which provide guidance on Medicare plans for patients will have reduced reimbursement rates for their services, regardless of how badly or how well these medical and health services are treated. About $ 160 billion in cuts in Medicare Advantage policies will also be incurred in the next decade. This means that by 2017, seniors will pay almost $ 4,000 more for medical care.

Worse, it has been estimated that this increase in health care costs will eliminate approximately 4 million seniors from all Medicare Advantage policies during the six-year period, beginning in 2012 and ending in 2018. Hospital payment rates will also be It would reduce dramatically as a result of these cuts in Obamacare. According to the main actuary of the program, these cuts may compromise the access of any older person to medical care.In addition to the above, it has been estimated that 15% of all assisted facilities and hospitals will no longer receive Medicare patients in the future to avoid potentially huge financial losses as a result of the payment of Medicare premium rates. In addition, it is speculated that 25% of these institutions will no longer be part of the Medicare program after 2030.

According to Charles Blahous, a Stanford University researcher specializing in national economic policy research, the Medicare care-related Medicare cuts will not be used as a replacement for the Medicare reward trust funds. The reality is that the money from these cuts will pay a great expansion in the spending on rights. Then another question arises. Where will those $ 700 billion cuts in Medicare come from? A part of them will come from the strict and restrictive control of medical billing procedures. However, the worst part of this scenario is how older people will suffer these cuts. With so many of them now living on fixed incomes, this can be financially disastrous in the long term.