October 1st Marks Initiation of $355.58 Million Cuts to SNF Medicare Funding
Cuts From Middle Class Tax Relief and Job Creation Act Begin Kicking-In Today as Part of $65 Billion, Ten Year Funding Reductions;
Florida, Ohio, Illinois, Pennsylvania and North Carolina See Biggest Cuts from New Tax Law
WASHINGTON, Oct. 1, 2012 /PRNewswire/ -- The Alliance for Quality Nursing Home Care (AQNHC), according to data from Avalere, said $355.58 million in cuts to U.S. seniors' Medicare-funded nursing facility (SNF) care begin kicking in today as a result of the Middle Class Tax Relief and Job Creation Act of 2012, signed into law earlier this year.
The cuts associated with the new tax law will be fully phased-in by 2015 -- and part of broader $65 billion SNF funding reductions over 10 years as a result of several different federal budgetary actions and regulatory changes made by Congress and the Centers for Medicare and Medicaid Services (CMS) since 2009, according to Avalere.
"With the first debate between President Obama and Mitt Romney just days away, and as U.S. seniors' nursing home funding has been a higher profile issue in this election than in the past, we hope to hear both candidates articulate ideas beyond just more cuts to Medicare and Medicaid -- which has seemingly become the default governmental policy in regard to SNFs," stated Alan G. Rosenbloom, President of the Alliance, which funded the Avalere data.
"No matter who eventually wins the White House and controls Congress, it will be imperative to pursue bigger-picture, systemic reforms that reduce costs, improve efficiency and optimize care quality once the election is over," he said.
According to the Avalere data, the states with the biggest SNF Medicare cuts associated with the new tax law are Florida $60.5 million; Ohio $30.5 million; Illinois $28.8 million; Pennsylvania $24.2 million; North Carolina $22.6 million.
Contact: Ellen Almond 703/548-0019 or Rebecca Reid 410/212-3843
SOURCE The Alliance for Quality Nursing Home Care
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