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Spending on Medicare is expected to explode in the coming years as our population ages. Despite this, a new Senate bill introduced by Sen. Mark Pryor would symbolically take potential solutions off the table by advocating against raising the eligibility age or privatizing the system. The bill would also restrict procedures that Congress could use to adopt reforms.
Medicare is badly in need of reform, of course, but real reform means moving away from the government’s counterproductive micromanagement of provider payments, not construction of yet another new government payment system that will inevitably distort the marketplace in ways no one can now predict
Medicare spending has slowed dramatically in the last four years. That is good news, but we cannot relax. If we expect Medicare to meet the needs of 76 million baby boomers — and eventually their children — we must modernize the program and put consumers in charge.
Better decisions by consumers will drive competition and will improve health system efficiency, and that depends in large measure on the way information about health plan options is presented.
Medicare is the biggest part of our nation’s fiscal problem. It can be saved. To be effective, Medicare reform must promote the smarter use of health services and give seniors a real voice in their health care.
The drug benefit was a contested and controversial piece of legislation in 2003. There were plenty of critics predicting its failure. Instead of failure, the program has established the model for how to fix the rest of Medicare too.
Medicare unveiled a series of regulations this month that make annual adjustments to various price schedules that set out what the program pays providers. The proposals confirm why the agency makes for such a crummy business partner.
Competitive bidding thus is a proven method for bringing efficient prices to Medicare. Unfortunately, the BPC’s proposals for competitive bidding are critically flawed.
Tom Miller's statement for the House Committee on Energy and Commerce's Subcommittee on Health Hearing on "A 21st Century Medicare: Bipartisan Proposals to Redesign the Program’s Outdated Benefit Structure"
Across-the-board spending cuts known as sequestration are expected to have disruptive effects across a spectrum of federal policies and programs. For Medicare providers, the true impact of sequestration's 2 percent reduction in payments will vary significantly across setting and type of...
We welcome you to join us as a panel of economists discuss US wage and price prospects in the coming months and the implications for the Federal Reserve’s current unorthodox monetary policy.