House Republicans Propose Raising Medicare Eligibility Age to Avoid Fiscal Cliff
According to a USA Today report, the proposal is based on an outline by former Clinton administration chief of staff Erskine Bowles, who co-chaired President Obama's debt commission.
The plan did not specify a new eligibility age for the Medicare program, though Ms. Bowles has publicly supported raising the age to 67. The age currently stands at 65.
Democrats maintain that without raising tax rates on the wealthiest of Americans — a proposal that many Republicans staunchly oppose — the country cannot avert the "fiscal cliff" that will occur when George W. Bush-era tax rates expire. The expiration will trigger $1.2 trillion in spending cuts over 10 years.
The House Republicans' proposal calls for $900 billion in healthcare and other mandatory spending cuts, in addition to other cuts. The GOP plan aims to achieve enough in deficit reduction to turn off the $1.2 trillion automatic spending cuts at the end o the year to resolve that aspect of the "fiscal cliff," according to the report.
Related Articles on Coding, Billing and Collections:
OIG Calls for Audits Prior to Meaningful Use Payments
Hospital ERs Begin Charging Fees for Non-Emergency Problems
Adams Health Network Approves $500K for EMR Billing Improvements
© Copyright ASC COMMUNICATIONS 2014. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.
New From Becker's ASC Review
PGM Billing launches CPT Coding Tool — 5 quick factsRead Now
- Consumer and clinician opinions on big data, telehealth and mHealth: 8 things to know
- Innovation's moral quandary: When am I obligated to reinvent the wheel?
- House Republicans sue Obama administration over PPACA: 5 things to know
- Just 1% of organizations will eliminate healthcare coverage, survey finds
- DOJ recovers $2.3B in healthcare False Claims Act cases in FY 2014