'Years of 'grannies going over cliffs' scaremongering suggest that any well-meaning attempts to reform Medicare will be portrayed negatively. Yet both parties have proposed Medicare savings,' Joe Albanese writes.
these discounts by reducing payment for these drugs from 106% to 77.5% of their average sales price. However, Congress can implement similar reforms via legislation and retain the savings for the Medicare program. This policy was originally estimated to reduce federal spending by about $1.3 billion and save beneficiaries $320 million annually.
There are many ways to reform Medicare. Focusing on a subset of proposals that are bipartisan and that target inflated spending on healthcare providers can make a meaningful difference in improving the program and making it more sustainable. But the longer Congress waits to act, the harder it will be to get spending under control without painful benefit cuts for seniors. The only way to protect Medicare is to reform it, starting with some commonsense fixes to reduce overpayments to providers.
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