How will the Senate tax bill affect Medicare?
The Senate tax bill is expected to trigger a $25 billion annual cut to Medicare, the CBO estimated earlier this month. The Medicare cuts aren’t part of the tax bill itself. Instead, they are mandatory spending cuts that would occur because of the tax bill’s $1.5 trillion increase to the deficit.
What does the Senate tax bill mean for You?
The Senate tax bill is really a health care bill with major implications for more than 100 million Americans who rely on the federal government for their health insurance. The bill reaches into every major American health care program: Medicaid, Medicare, and the Obamacare marketplaces.
Will the tax cuts for the very wealthy save Medicare?
The money saved will be pumped into tax cuts for the very wealthy. The bill also includes tax cuts so large that they would trigger across-the-board spending cuts — including billions for Medicare. The last time Medicare was hit with cuts like this, patients lost access to critical services like chemotherapy treatment.
Is there an amendment to the Social Security Act?
(1) P AYMENT UNDER FEE SCHEDULE.—Section 1833 (h) of the Social Security Act ( 42 U.S.C. 1395l (h)) is amended— (A) in paragraph (1) (A), by inserting after “ (including” the following: “multi-cancer early detection screening tests under section 1861 (lll) and including”; and (B) by adding at the end the following new paragraph:
Repealing the individual mandate would cause premiums to spike, millions to lose coverage
The Senate bill includes a provision to repeal the Affordable Care Act’s requirement that nearly all Americans carry insurance coverage, known as “the individual mandate.”
The Senate tax bill is also a health care bill
As the tax bill slides to a vote (with the expectation that it will clear the Senate), we should also be talking about health care. When Obamacare faced repeal this spring, many groups mobilized to demand clarity on what the bill would really do. We need those answers now too.
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Who is the co-sponsor of the Medicare bill?
Senators Tim Scott (R-South Carolina) and Ben Cardin (D-Maryland), also members of the Senate Finance Committee, are original co-sponsors of the bill.
Why is bipartisan legislation needed?
Bipartisan legislation is needed to both protect patients and taxpayers. ”. “Early detection, multi-cancer tools will revolutionize our approach to cancer screening, save costs to our health care system, and most important, save countless lives,” said Senator Bennet.
Does Medicare cover cancer?
Under current law, Medicare only covers preventive services Congress has explicitly authorized, or the U.S. Preventive Services Task Force has recommended. Without this legislation, it could take several years after FDA approval for Medicare to cover new early detection technologies for cancer.