Wednesday, July 08, 2009
CBO: House Discussion Draft Yields More Than $500 Billion in Savings from Medicare Improvements
WASHINGTON, D.C. -- The House Committees on Ways and Means and Energy and Commerce today released a preliminary estimate from the Congressional Budget Office (CBO) on a portion of the House Tri-Committee health reform discussion draft. The draft proposals included in the estimate would slow spending, yielding more than $500 billion in gross savings to Medicare over ten years while also extending the solvency of the Medicare Trust Fund and providing key payment and delivery system reforms.
Included in the estimates released tonight are important investments in the Medicare program that would fix the deeply flawed physician payment system, close the Medicare prescription drug donut hole, encourage prevention and wellness by eliminating cost-sharing for preventive services, and improve access for low-income Medicare beneficiaries.
The estimates released tonight are limited to costs and savings associated with Medicare included in the discussion draft. The three Committees continue to refine the legislation.
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