In the $3 trillion budget unveiled today, President Obama includes a $634 billion, 10-year healthcare reserve fund. The fund is considered a down payment for expanding health care. Half of the money will come from raising taxes on those earning over $250,000 a year and the other half on Medicare changes.
The plan would have private insurers who sell Medicare plans participate in a competitive bidding process, which could save about $175 billion over 10 years. Drug makers would have to increase medication rebates to Medicaid patients. Also, hospitals with high readmission rates would receive less Medicare funds.
Politico reports that Obama's priorities for healthcare reform include: maintaining choice of insurance and doctors, ensuring affordable coverage, protecting Americans financial health, investing in prevention and wellness, improving patient safety and quality of care while being fiscally responsible, sustainable, and portable. You can read more about the entire budget on this White House site.
Do you support spending $634 billion to advance these priorities?