Highlights from Obama's budget proposal
President Obama's budget would reduce the growth of federal health spending by $401 billion over 10 years. The savings include $57 billion of higher payments by Medicare beneficiaries; cuts of $306 billion in projected Medicare payments to health care providers; and $19 billion to be squeezed out of Medicaid, the program for low-income people. Kathleen Sebelius, the secretary of health and human services, said Wednesday that the president was requesting $1.5 billion to operate health insurance supermarkets, known as exchanges, in 2014. In addition, the administration plans to raise $450 million by charging user fees to insurance companies allowed to sell their products to consumers and small businesses in the exchanges.
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