23 May What President Trump’s Proposed Budget Looks Like for Healthcare
President Trump released his proposed fiscal year 2018 budget today. It includes several sizeable cuts to various sectors of the healthcare industry. According to the Health Affairs blog, “Over the next ten years, the budget proposes cutting Obamacare” outlays by $1.25 trillion, resulting in $250 billion in deficit reduction, through the American Health Care Act’s program amendments. Beyond that, Trump’s budget would cut Medicaid spending by $610 billion and cut CHIP by $5.8 billion (while extending it through 2019.”
Additional health industry reductions include, for 2018, more than $850 million for the FDA, $1.3 billion for the CDC, and $5.8 billion for the National Institutes of Health. There is also a provision in the budget proposing medical liability reforms which are projected to result in billions of dollars in savings for the Department of Health and Human Services (HHS) and other sectors of the federal government.
One healthcare increase in the budget is an additional $114 million allocated to the Center for Medicare and Medicaid Innovation.
This is only a proposed budget, and will likely look quite different from the budget that passes through Congress. Healthcare funding will also be determined by what version of the American Health Care Act (AHCA) ultimately passes, assuming that a version of this bill will ultimately pass. The Congressional Budget Office’s (CBO) score for the bill that was passed from the House to the Senate is due out tomorrow. We’ll keep you informed as significant legislative activity pertaining to healthcare continues.
Link to Health Affairs blog: http://healthaffairs.org/blog/2017/05/23/trump-budget-proposes-big-health-cuts/