- Medicare provider payments will be cut by 2% April 1st, 2013 unless Congress passes an alternate deficit reduction plan before then.
- Cuts will be applied to:
- Medicare Hospital Insurance (Part A)
- Medicare Medical Insurance (Part B)
- Contractual Payments to Medicare Advantage Plans (Part C)
- Medicare Prescription Drug Plans (Part D)
- 90% of Medicare spending is limited to the 2% in cuts and 8% exemption
- If the sequestration goes into effect, an estimated $11.085 billion in cuts will occur
- From, 2013 to 2021 - the article stated that the Congressional Budget Office estimates that $31 billion will be spent because of the sequestration.
To view the full article, please click the following link: What Does Sequestration Mean to Medicare?
For additional billing and coding resources, please click the following link: Medical Reimbursement Billing and Coding Resources