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How Will Obama Mark The 47th Anniversary Of Medicare?

- July 30, 2012


CBO: ObamaCare Cuts $741 Billion From Medicare. “One interesting number buried deep within the CBO reports: $741 billion. That’s how much the government would save from cutting subsidies for supplemental Medicare insurance, according to the new estimates. But that’s a jump from the original estimate of $500 billion over 10 years.” (Jonathan Allen and Matt Dobias, “Health Care Law Now Cheaper, Won’t Cover As Many People,” Politico, 7/24/12)

  • Medicare Chief Actuary Says ObamaCare’s Cuts To Medicare Are “Unrealistic” And Unsustainable.  “Richard Foster, the chief actuary of Medicare, testified before the House Budget Committee said that the cuts to medical providers set by President Obama’s national health care law were unrealistic.  ‘It’s prety hard to imagine they could be sustainable,’ Foster said, under questioning from Rep. Paul Ryan, R-Wis.”  (Philip Klein, “Medicare’s Chief Actuary Says ObamaCare’s Cuts To The Program Likely Unsustainable,” The Washington Examiner’sBeltway Confidential” 7/13/11)


According To Medicare Trustees, Medicare Will Become Insolvent In 2024. “Medicare, which is expected to provide health insurance to more than 50 million elderly and disabled Americans this year, is expected to start operating in the red in its largest fund in 2024, according to the annual assessment by the trustees charged with overseeing the programs.” (Noam N. Levey, “Trustees Warn Of Looming Insolvency For Social Security, Medicare,” Los Angeles Times, 4/23/12)

Flashback To 2011, Medicare Trustees Report Noted That Medicare Will Be Bankrupt By 2024 – Five Years Earlier Than Expected. “The annual checkup said that the Medicare hospital insurance fund will now be exhausted in 2024, five years earlier than last year’s estimate.” (Stephen Ohlemacher, “Trustees: Worsening Picture for Benefit Programs,” The Associated Press, 5/13/11)

The Projection That Medicare Will Be Bankrupt By 2024 May Be Too Generous.  “The Medicare figures are suspect, because they rely on billions of dollars in savings projected under the health care law signed by President Obama last year.”  (Richard Wolf, “Medicare, Social Security Running Out Of Money Faster,” USA Today, 5/13/11)


ObamaCare’s Medicare Cuts Are Forcing Private Physicians To Turn Away New Patients. “Doctors on the panel also warned that PPACA’s $500 billion cut to Medicare could translate into even less reimbursement for those who care for patients insured by the government. Already, many physicians are turning away new patients because they’re taking a loss or barely breaking even when working with Medicare.” (J.D. Harrison, “Health Care Law Driving Doctors Away From Small Practices, Toward Hospital Employment,” The Washington Post, 7/19/12)

  • Small Practice Physicians Are Closing Their Offices And Moving To Large Hospitals Due To ObamaCare Regulations And Higher Costs. “During a hearing before the House Small Business Committee on Thursday, health-care professionals explained that the shift has already been picking up momentum in recent years, driven largely by growing regulatory and administrative burdens, rising malpractice costs and declining reimbursements from insurers — all of which they say have hit small practices especially hard. Consequently, doctors are shying away from the traditional solo practitioner model in favor of employment at large hospitals, which amid constant industry changes, can provide more financial security and take responsibility for keeping up with new regulations.” (J.D. Harrison, “Health Care Law Driving Doctors Away From Small Practices, Toward Hospital Employment,” The Washington Post, 7/19/12)

ObamaCare’s Regulations Will Add To The Shortage Of Doctors That Are Needed To Provide Care To Seniors. “The Association of American Medical Colleges estimates that in 2015 the country will have 62,900 fewer doctors than needed. And that number will more than double by 2025, as the expansion of insurance coverage and the aging of baby boomers drive up demand for care. Even without the health care law, the shortfall of doctors in 2025 would still exceed 100,000.” (Annie Lowrey and Robert Pear, “Doctor Shortage Likely To Worsen With Health Law,” The New York Times, 7/28/12)

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