June 30, 2011 — Physicians would dodge a nearly 30% Medicare pay cut next January and see their rates frozen for 3 years under an ambitious proposal from 2 US senators to slow the growth of Medicare spending and save the government healthcare program for seniors.
However, seniors would get hit squarely with fiscal pain. The reform plan issued yesterday by Sen. Tom Coburn, MD (R-OK), and Sen. Joe Lieberman (I-CT) would gradually raise the Medicare eligibility age from 65 to 67 years by 2025, require wealthier seniors to pay more for their share of the Part B medical program and the Part D drug program, and increase Part B premiums for all enrollees. These and other features of the plan that have not yet been submitted as legislation would supposedly save more than $600 billion over 10 years.
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