It's like watching a trailer to a horror movie. You know something bad is going to happen. You just don't know when.
A law enacted this week requiring sequester details within 30 days is expected to give Medicare providers new insights—or more likely nightmares—on the looming 2% cut to their payments.
The Sequestration Transparency Act of 2012, sign by President Barack Obama on Tuesday, requires the administration to provide detailed estimates within 30 days of the sources for the cuts required to begin in January 2013 under the Budget Control Act of 2011. The law requires $1.2 trillion in government-wide federal cuts over10 years, while exempting certain programs.
The new law's required estimates, down to the “program, project, and activity level,” will include greater detail on the maximum 2% annual cut in Medicare provider payments required by the law, a congressional source confirmed this week.