The Obama Prescription For Health Care Begins To Take Shape: Doctors Get Ready to Tighten Your Belts
President Obama's prescription for health reform is beginning to take shape and the early prognosis is that physicians will be on the losing end. According to an article in the Washington Post, Obama's Budget is going to include a $634 billion reserve fund as a downpayment on a $1 trillion health system overhaul.
How does Mr. Obama plan on paying for his plan? According to the Post article "by trimming tax breaks for the wealthy and squeezing payments to insurers, hospitals, doctors and drug manufacturers". (emphasis added) This may be a double whammy for doctors who are fortunate enough to still be earning household income of $250,000 since that would qualify them as "wealthy" under the Obama plan. On the other hand, if the intended reimbursement cuts are deep enough, many doctors may not have to worry about being in the top tax bracket.
Stay tuned, this is going to get interesting.