Texas Insider Report: WASHINGTON D.C. Congressman Lamar Smith (R-Texas) released the following statement after voting today in favor H.R. 2 a bill to permanently repeal Medicares Sustainable Growth Rate or SGR. The bill would provide more stability for Medicare patients and result in savings for the taxpayer. The bill passed by a vote of 392-37.
Congressman Smith: Every year more and more doctors turn away Medicare patients because they cant depend on the programs unstable payment system. This is a real problem for the millions of American seniors who rely on Medicare for their health care needs. This bill puts seniors first by giving Medicare the long-term stability both doctors and patients need. And it will save taxpayers almost $1 billion over the next ten years.
The nonpartisan Congressional Budget Office (CBO) confirmed this week that H.R. 2 would also save taxpayers money compared to the current practice of temporary fixes and put the nations budget on a more sustainable path. It is estimated $170 billion has been spent on patches over the last few years costing taxpayers
more than what the CBO estimates it would cost to repeal the SGR using the House bill.
In addition CBO estimates enacting H.R. 2 would cost $0.9 billion less over the 20152025 period than freezing payment rates for physicians services.
It would do so by establishing the first real structural entitlement reforms in nearly two decades offsetting all new spending without tax increases. It will also will bring more competition to Medicare and set the stage for further reforms in the future to help seniors and taxpayers.
It would also strengthen Medicares ability to fight fraud waste and abuse by among other things removing Social Security numbers from beneficiaries Medicare cards preventing Medicare payments for deceased and ineligible individuals and removing burdensome reporting policies for employers.
