Summary of Medicare provisions in the President's budget for fiscal year 2016

On February 2, 2015, the Office of Management and Budget released President Obama's budget for fiscal year (FY) 2016, which includes provisions related to Medicare. The President's budget proposal would use federal savings and revenues to reduce the deficit, replace sequestration of Medicare and other federal programs for 2016 through 2025, and pay for new spending priorities. The President's FY2016 budget proposal would reduce net Medicare spending by $423 billion between 2016 and 2025, and is estimated to extend the solvency of the Medicare Hospital Insurance Trust Fund by approximately five years. This brief summarizes the Medicare provisions included in the President's FY2016 Budget.