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Automatic Budget Cuts Will Reduce Medicare Payments To Providers By $11 Billion
Medicare providers would see reductions of about $11 billion beginning in January as part of series of automatic spending cuts set to begin next year unless Congress acts to halt them, according to estimates released Friday by the White House Office of Management and Budget.
The numbers came in a report that details how federal agencies would implement roughly $120 billion in mandatory, across-the-board budget cuts agreed to by Congress and President Barack Obama last August as a way to end a bitterly partisan dispute over the budget. Lawmakers in both chambers, as well as Obama, want to avoid the process, known as sequestration.