This is a brief summary of the Medicare provisions included in the federal budget proposal for FY2015: if adopted, it would reduce Medicare spending by more than $400 billion between 2015 and 2024, accounting for about 25 percent of all reductions in federal spending included in the budget. More than one-third (34%) of the proposed Medicare savings are due to reductions in payments for prescription drugs under Medicare Part B and Part D. (UPDATED YESTERDAY). One-third (33%) of the proposed Medicare savings are due to reductions in Medicare payments to providers. About 16 percent of the proposed Medicare savings are due to increases in beneficiary premiums, deductibles and cost-sharing.
Summary of Medicare Provisions in the President’s Budget
Beneficiary Premiums, Deductibles And Cost-Sharing
Other topics discussed in more detail include:
Medicare Advantage, Prescription Drugs, Physician Payments and the Sustainable Growth Rate (SGR) Formula & Medicare Payments to Other Providers