Posted on 11/11/2012 6:46:48 AM PST by Smokeyblue
A lack of compromise by lawmakers in Washington could result in spending cuts that could affect local health providers within the next two months.
The cuts, also known as sequestration, have been a top issue for providers – especially hospitals – that receive federal dollars.
The money at stake is caught up in the package of spending cuts and tax increases that are to start taking effect Jan. 1 – unless Congress and the president act to modify the plan. Approved as part of a deal made by Democrats and Republicans last year, the package is now commonly known as a “fiscal cliff” because economists fear that if implemented, the spending cuts and tax increases will cause serious harm to the economy.
“It’s something everybody has their eye on,” said Bruce Witt, Via Christi Health government relations director.
If sequestration goes into effect, about 2 percent of all Medicare spending – or about $11 billion for the first year – would be cut on Jan. 2, according to the White House Office of Management and Budget.
For Via Christi Health, that means approximately $3.5 million in Medicare reimbursement cuts could be at stake for the remainder of the fiscal year, Witt said.
Witt says the lame-duck Congress in the post-election season will likely extend programs for three to six months and let the newly elected Congress deal with the issue.
(Excerpt) Read more at kansas.com ...
This isn’t the only cliff we are about to fall over.
Obamacare is like the Grand Canyon with cliffs everywhere.
Hang on folks we are expecting turbulence.
I only hope those who voted for Obama share this with us.
Lord, isn't that the truth. It's going to be a nightmare.
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