Update on SGR and Fiscal Cliff
January 2, 2013
To: HBMA Membership
From: Bill Finerfrock
Re: Fiscal Cliff/SGR update
On January 1, the House of Representatives in a bi-partisan vote of 257 - 167, passed H.R. 8, the Fiscal Cliff/SGR legislation passed earlier in the day by the Senate.
The legislation was unchanged from the version passed by the Senate. Therefore, it can immediately go to the President for his signature, which is expected. To recap:
- The SGR cut of 26.5% is rescinded and the Conversion Factor for the physician fee schedule will be frozen for one year.
- The 2% sequestration cut that was to take effect later this week is been temporarily postponed until early March. The next Congress will have to determine whether to allow sequestration to take place or replace sequestration with other cuts in federal spending or higher taxes.
Please review the memo distributed on January 1st to see the details of the other health provisions included in this legislation.
If you have any questions, please do not hesitate to contact the HBMA national office.