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Medicare's Chief Actuary On The Pain of Price Controls

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Uploaded on Jul 13, 2011

As the most basic laws of economics remain at odds with the President's health care law, the case for repeal grows stronger.

At today's House Budget Committee hearing, Congressman Tom Price of Georgia asked Medicare's chief actuary Richard Foster about the practical impact of the President's health care law -- in which savings are sought by paying providers less for the same amount of care. Under the President's health care law, according to Medicare's Chief Actuary, providers of Medicare services will see cuts to their Medicare reimbursements past the point at which they can reasonably provide care to seniors. Providers would be reimbursed for their services at under 50 cents on the dollar by 2030, and down to 33 cents on the dollar in the years beyond.

When asked about the impact of these price controls on seniors' access to quality care, Medicare's chief actuary replied: "We'd like not to find out..."

For more on the Facts on Medicare: http://budget.house.gov/News/Document...

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