in Houston, Texas
Medicare, Medicaid costs to hit $1 trillion for first time, government economists say: Health care news today
Wednesday, Aug 03, 2011, 09:01AM CST
By Mark Lisheron

Before it is over, they might be referring to them as The Dirty Dozen, the panel entrusted to figure out just where to make all those spending cuts demanded before the debt limit law could be passed. Republicans won’t stand for slipping new taxes into the formula, Democrats want no sneak attacks on entitlements. You know, a truly bipartisan panel.

We know you were probably suspicious when the Congressional Budget Office said it, and when the Government Accountability Office told you you weren’t quite convinced. Well, guess what, the Bureau of Economic Analysis is saying it, too: Medicare and Medicaid costs are going absolutely insane, on their way to a combined $1 trillion by the end of this year.

Although it was hands off entitlements, Medicaid and Medicare advocates fear the scythe in the field, while maybe more employers than were previously reported are offering coverage under the new health law. And nursing homes say they are going to have to suck it up with a coming cut in Medicare reimbursement. For you, for Wednesday.
Contact Mark Lisheron at 512-299-2318 or or on Twitter at @marktxwatchdog.

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Photo illustration of money by flickr user live w mcs, used via a Creative Commons license.
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