Washington, D.C. – Today, the Ways and Means Committee released bipartisan proposals to reform Medicare. This follows several hearings on Medicare reforms in the Ways and Means Health Subcommittee. The draft legislative text can be found at www.waysandmeans.house.gov/entitlementreform.
The proposal outlines three key policies to modernize cost-sharing within the Medicare program: (1) reducing premium subsides for wealthier seniors in Medicare Parts B & D; (2) increasing the annual Medicare Part B deductible; and (3) establishing a home health co-pay. All provisions can be found in the President’s FY2014 budget.
Commenting on the announcement, Ways and Means Committee Chairman Dave Camp (R-MI) stated, “Without action, Medicare will be bankrupt by 2026. Seniors deserve real solutions that will preserve and protect this vital program for current and future beneficiaries. There has been strong bipartisan support for advancing commonsense solutions to ensure these programs are on a more fiscally sound path, and there is no reason why we cannot work together to achieve that goal.”
The public is encouraged to submit comments to any of the proposals by email at email@example.com by the due date listed for each proposal. You can view the proposals, fact sheets, summaries and draft language at www.waysandmeans.house.gov/entitlementreform.
In April, the Ways and Means Committee announced a bipartisan hearing series on entitlement reform. As part of that series, the Committee is reviewing a variety of proposals to protect and preserve Medicare and Social Security that have been identified by President Obama – either in his budget or in other recommendations to Congress. The Committee is also reviewing bipartisan ideas for entitlement reform from the President’s National Commission on Fiscal Responsibility and Reform (known as the “Simpson-Bowles Commission”) and the Bipartisan Policy Center Debt Reduction Task Force (known as the “Domenici-Rivlin Task Force”).