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Tag Archives: Fiscal Cliff

What Will the Fiscal Cliff Mean to Health Care?

Unless you have been living in a cave, you are likely familiar with the Fiscal Cliff and what will happen with taxes if Washington fails to act and we go over the edge.( Street Smart Finance had a great post on that if you need more information). One other part of the “Fiscal Cliff package” would mean that Medicare payments to doctors would be cut by 27%. Most people are very concerned, and rightfully so, about tax increases, but the Medicare cuts seem to be sort of an afterthought. Perhaps you aren’t near Medicare age and are having enough problems finding a good insurance plan that you can afford. Maybe you think doctors charge too much, and they need a pay cut. Regardless, if Medicare does cut doctor payments by almost 30%, we can expects some negative impacts on our health care system. Doctors Charge Too Much I’ve heard this argument a million times, and I do believe the sticker price on many health care services is too high. However, most doctors don’t get paid the prices they charge. By being a provider for an insurance carrier or government plans like Medicare and Medicaid, doctors agree to accept assignment. That ...

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