November 19, 2012
MHA: Fiscal Cliff Would Cost Mass. $1.1B In Medicare
Barring Congressional action on scheduled spending cuts and tax increases, Massachusetts hospitals and other providers would see a 2-percent reduction in Medicare reimbursements on Jan. 1, according to the Massachusetts Hospital Association.
That would translate to at least $1.1 billion in cuts over the next decade, the association said, and 17,400 job cuts in the health care sector, including 11,200 in the first year.
The cuts would be on top of approximately $5.6 billion in cuts built into the federal Affordable Care Act over the next decade, the MHA noted.
In addition, research hospitals could see more than $200 million in cuts over the next decade in National Institutes of Health funding, MHA said.
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