Committee releases draft on deficit reduction
The bipartisan National Commission on Fiscal Responsibility and Reform released a draft co-chair's proposal to reduce national debt and spending, including healthcare costs. The commission, which was created by President Obama in February, proposes that Medicare pay doctors, health providers and drug companies less. The proposal includes rebates for branded drugs as a condition to participate in Medicare Part D. The draft estimates that rebates would save $59 billion over 2011-20. The rebates would be in addition to the $80 billion that the Pharmaceutical Research and Manufacturers of America agreed to in new rebates, fees and taxes as part of healthcare reform. Additionally, the draft recommends that CMS establish a new payment system in 2015. ...