OMB Projects Slower Growth In Medicare, Medicaid Spending, But With A Caveat
Politico Pro: OMB Lowers Medicare, Medicaid Estimates
Federal spending on the nation's two main health care programs, Medicare and Medicaid, is projected to grow less than expected over the next decade, according to new estimates released Thursday by the White House. That's because the federal government has been paying less than expected in benefits — but the new estimates also assume cuts in doctors' payments that probably aren’t going to happen. Under current fiscal policy, the government is expected to spend about $4 billion less this year on Medicare, matched with another $4 billion reduction over the next decade compared to the administration’s previous estimates, according to revised projections in the Office of Management and Budget’s midsession review (Dobias, 9/1).