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Medicare cuts averted
Kelly Byrnes, FSVU, RVT, BS
Tue December 14, 2021 09:13:11 AM
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.
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