Following months of negotiations,Congress is expected to approve a final continuing resolution (CR) for this fiscal year that includes substantial cuts in healthcare spending. The CR terminates funding for more than 55 programs, for a total savings of over $1 billion. In addition, the bill cuts two programs funded in the healthcare reform law (the Consumer Operated and Oriented Plan (CO-OP) and terminates the Free Choice Voucher programs). The CO-OP was established as a way to foster the creation of qualified not-for-profit health issuers that would offer health plans in the individual and small group markets. The Free Choice Voucher programs allowed employees who spent between 8 percent and 9.8 percent of their income on employer-sponsored coverage to shop for a lower-priced plan on the health insurance exchanges in 2014. The bill also cuts funding for the State Health Access Grants Program, which provides funding to states to expand access to affordable coverage for the uninsured. The proposed budget goes on to cut funding to community health centers, which provide primary care services to low-income individuals. The CR does not affect programs funded under the Health Information Technology for Economic and Clinical Health (HITECH) Act, such as the meaningful use incentive program.
Dallas L Alford IV, CPA is a licensed Certified Public Accountant in the state of North Carolina and owner of Atlantic Financial Consulting, a consulting firm that provides comprehensive medical billing services, practice management consulting, coding audits, Medicare compliance, Medicare RAC support and other general medical practice consulting services.
To learn more about Atlantic Financial Consulting you may visit their website at http://atlanticfinancial.us or contact Dallas L Alford IV, CPA directly at 1 888-428-2555, Ext. 200.
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