Just a bit of Education..... Do you know what the IPAB is??? *** Independent Payment Advisory Board *** What is IPAB? The Patient Protection and Affordable Care Act established a 15-member Independent Payment Advisory Board (IPAB) to extend Medicare solvency and reduce spending growth through use of a spending target system and fast track legislative approval process. By April 30 of each year, beginning in 2013, the Centers for Medicare & Medicaid Services (CMS) Actuary’s Office will project whether Medicare’s per-capita spending growth rate in the following two years will exceed a targeted rate. Initially, the targeted rate of spending growth will be based on the projected 5-year average percentage increase in the Consumer Price Index for all urban consumers (CPIU) and the Consumer Price Index for all urban consumers for medical care (CPI-M). Beginning in 2019, the target will be set at the nominal gross domestic product (GDP) per capita + 1.0 percent. If future Medicare spending is expected to exceed the targets, the IPAB will propose recommendations to Congress and the President to reduce the growth rate. The IPAB’s first set of recommendations would be proposed on January 15, 2014.
Posted on: Thu, 28 Nov 2013 06:26:40 +0000
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