One-Year Postponement in Medicare Reimbursement Cuts Included in Fiscal Cliff Package
Category: Insurance News
Jan
03
The fiscal cliff legislation expected to be signed by the president today, contains a one-year delay in a scheduled cut in reimbursement for Medicare providers, including doctors of chiropractic.
The legislation will block a 27 percent payment cut to Medicare physicians that was due to start January 1st and keep rates frozen at current levels for the rest of this calendar year. Medicare providers were also set to face an additional two percent cut due to further budget tightening provisions, known as "sequestration," but that cut has also been suspended to give Congress time to find alternatives to this across-the-board cut in federal programs.
Once the fiscal cliff legislation has been signed, Medicare claims contractors will adjust their 2013 fee schedules accordingly; many have already removed the reduced 2013 fees from their web site so this adjustment can be made. Please check your contractor's web site periodically for these new fees. Until the new fees are posted, the ACA recommends using the 2012 fee schedule.
The legislation will block a 27 percent payment cut to Medicare physicians that was due to start January 1st and keep rates frozen at current levels for the rest of this calendar year. Medicare providers were also set to face an additional two percent cut due to further budget tightening provisions, known as "sequestration," but that cut has also been suspended to give Congress time to find alternatives to this across-the-board cut in federal programs.
Once the fiscal cliff legislation has been signed, Medicare claims contractors will adjust their 2013 fee schedules accordingly; many have already removed the reduced 2013 fees from their web site so this adjustment can be made. Please check your contractor's web site periodically for these new fees. Until the new fees are posted, the ACA recommends using the 2012 fee schedule.
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