The 21.2 percent cut in Medicare reimbursement officially went into effect Monday, March 1, but the Centers for Medicare and Medicaid Services (CMS) issued a guidance Friday that will delay its effects for two weeks, or until the U.S. Senate acts on a bill delaying the cut.
The U.S. House of Representatives voted Thursday to pass H.R. 3961, the Medicare Physician Payment Act, 243-183, altering the way Medicare pays physicians and preventing a scheduled 21.2 percent rate decrease set to take effect on Jan. 1, 2010.
The U.S. House of Representatives has released the America's Affordable Health Choices Act of 2009, its version of how to reform the current U.S. healthcare system. To support the bill's initiatives, it proposes a 5.4 percent tax on U.S. taxpayers earning more than $1 million; and a 1.5 percent tax on those who make more than $500,000, but less than $1 million.
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A study conducted by the American Medical Association (AMA) found that within 24 of the 43 reporting states in the study, two large insurance payors had a combined market share of 70 percent or more, and that overall competition in the health insurance industry is decreasing.
Senate Majority Leader Harry Reid, D-Nev., is “determined to continue working” on changing the Medicare payment system and repealing the sustainable growth rate (SGR) formula after failing last week to get enough votes to force an up-or-down vote on S. 1776 (Medicare Physician Fairness Act).
The Centers for Medicare & Medicaid Services (CMS) has proposed a 21.5 percent rate reduction for the 2010 calendar year to more than one million physicians and non-physician practitioners who are paid under the Medicare Physician Fee Schedule.
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