Congressional Budget Office Predicts Increased Deficits Partially Due to Healthcare Spending


This week, the CBO released its Budget and Economic Outlook Report: 2016-2026 and predicted a growth in the federal budget deficit for the first time in seven years. The report finds that the growth in the deficit is due in part to the omnibus spending bill passed in late 2015 that included a delay of the medical device tax and the so-called “Cadillac” tax on high-value insurance plans, and the repeal of the Sustainable Growth Rate (SGR) earlier in the year. Congress did not fully off-set the cost of either legislation. In response to the release of CBO’s report, House Ways and Means Committee Chairman Kevin Brady (R-TX) reiterated his plans to reintroduce his hospital and post-acute care payment reforms, and Senate HELP Committee Chairman Lamar Alexander (R-TN) suggested Congress act on legislation that would reform Medicare, eliminate Medigap coverage, and raise the Medicare eligibility age he originally introduced in 2013, based on budget deficit reduction recommendations from the Simpson-Bowles Commission.

Source: ASCRS

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About Arthur De Gennaro

My friends call me Art. Welcome to my blog. In this space you’ll find information and comments on the ophthalmology world, the optical industry, the hearing industry and medical practice management. My intent is to provide information you can use to improve your business and your own performance. Please visit often and feel free to join the discussions by leaving comments.

You can learn more about me and my consulting company, Arthur De Gennaro & Associates, LLC by visiting my web site www.adegennaro.com

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January 2016

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