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Good news!

Congress passed the "Protecting Medicare and American Farmers from Sequester Cuts Act", a bipartisan legislative package that will mitigate a significant portion of the Medicare-related payment cuts slated for implementation January 1. President Biden signed the legislation into law December 10th.

The legislation includes provisions that:

• Increase the Medicare conversion factor rate for physicians by 3% for calendar year 2022
• Push into 2023 the balances on the statutory pay-as-you-go scorecards that would otherwise trigger funding cuts next year.
• Suspend for three months, through March 31, a 2% automatic cut to Medicare payments required under the 2011 Budget Control Act and then suspend for the next three months, through June 30, the automatic cut to Medicare payments from 2% to 1%.

This is a temporary fix, but it will provide relief until a more permanent solution can be found.