How does President Obama plan to save money for Medicare?
According to Richard Foster, the Medicare chief actuary, in the 2010 Medicare Trustees Report, projections for decreases and savings in Medicare spending are totally unrealistic because providers cannot cope financially with the cuts and meet their expenses.
The prices paid by Medicare for health services are very likely to fall increasingly short of the costs of providing these services.”
The President’s savings are derived from overall cuts to Medicare including markedly decreased reimbursements for care to seniors. It also assumes that healthcare providers will react by becoming more efficient and productive, finding ways to provide the same benefits at a lower cost.
According to Mr. Foster’s projections, by 2019, Medicare reimbursements will actually fall below that of Medicaid payments. Studies have shown that Medicaid patients cannot get proper medical care accessibility in a timely fashion.
Simply put, with the Medicare slashes that the White House proposes regularly, unless seniors are wealthy enough to pay for care, there will just not be any care for them.
Do you have any suggestions on the issue?