Home > Health Care Policy > Details of Health Care Cuts and Spending in 2013 Federal Budget

Details of Health Care Cuts and Spending in 2013 Federal Budget

The Obama Administration has recently presented its 2013 Budget proposal to Congress. According to the White House and HHS websites, healthcare is expected to be effected in the following ways:

CUTS

$362 billion in cuts to Medicare and Medicaid over 10 years

Drug companies to provide $156 billion in discounts on top of $80 billion in discounts used to pay for healthcare reform legislation

$63 billion in cuts to long-term care facilities (i.e. Kindred Healthcare)

$177 million cut to Children’s Hospital Graduate Medical Education programs

$327 million cut to Community Services and Preventive Health grants

SPENDING

Medicare spending to increase by $45 billion in 2013 and total $523 billion.  Seniors to see premiums go up in order to save $28 billion by 2022.

SAVINGS

$385 billion in savings for Medicare and Medicaid over 10 years

INVESTMENT

$1 billion additional for implementation of healthcare reform

$2 billion for Administration on Aging

$599 million for “effectiveness” research

$8 billion for Head Start

REVENUE GENERATION

$1 trillion in new taxes (Buffet rule, etc)

EFFECT ON JOB FORCE

200,0000 pharma jobs to be lost according to Pharmaceutical Research and Manufacturers of America Association

278,000 hospital jobs to be lost according to American Hospital Association

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