The U.S. Senate has passed the Medicare Access and CHIP Reauthorization Act of 2015 (HR 2), which effectively repeals the sustainable growth rate formula, according to a Medpage Today report. Here are five key facts on the legislation and the vote that passed it.
1. The House passed the bill on March 26. The Senate passed the legislation yesterday. Now the bill heads to president Barack Obama, who has already indicated he will sign it.
2. Replacing the cuts SGR would have mandated, HR 2 will increase Medicare physician reimbursement by 0.5 percent starting in July through December, according to the report. Then, Medicare payment will have annual 0.5 percent increases through 2019.
3. The bill will also consolidate a number of reporting programs, including meaningful use, into one value-based payment system that focuses on alternative models, according to the report. HR 2 also extends the Children's Health Insurance Program.
4. The legislation will cost $200 billion over the next decade, according to the report.
5. The Medicare Access and CHIP Reauthorization Act of 2015 was passed with bipartisan support. The final vote was 92 to 8. The eight voices of dissention included:
• Ted Cruz (R-Texas)
• Mike Lee (R-Utah)
• David Perdue (R-Ga.)
• Marco Rubio (R-Fla.)
• Ben Sasse (R-Neb.)
• Tim Scott (R-S.C.)
• Jefferson Sessions (R-Ala.)
• Richard Shelby (R-Ala.)