Sen. Chuck Grassley, chairman of the Committee on Finance, today made the following comment in response to an announcement by two Democratic members - a senator and a House member - that they will try to rescind a “giveaway" to insurance companies in the budget reconciliation spending bill if the bill moves forward.
“I appreciate the interest in fixing a ‘giveaway’ to insurance companies. The conference report cuts Medicare payments to insurance companies by $6.5 billion over five years. Even more important, it rescinds the policy leading to those extra Medicare payments. The change is supposed to make sure that a part of the payment formula to plans, called risk adjustment, is fully implemented. It’s a change that makes sense. Beyond that, I’m happy to work with my colleagues on legislation to cut other overpayments made by Medicare and Medicaid."
Source: Ranking Member’s News
