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Senator Kyrillos Discusses Impact of $500 Billion in New Taxes and Cuts to Medicaid Reimbursements

Press Release

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Hospitals across the state are in a holding pattern. Uncertainty is widespread as medical institutions await the full impact of the new healthcare law set to go into effect January 13, 2012.

According to Moody's, over the next 10 years, the federal government will cut reimbursements to hospitals by more than $150 billion. Also, a $14 billion cut is planned for certain Medicaid reimbursements.

"Senator Menendez's votes in the United States Senate are threatening our recovery, and threatening access to quality care for seniors, and some of the nation's most vulnerable," said Joe Kyrillos.

"Menendez voted for a law that will make drastic cuts to Medicaid reimbursements. By reducing these reimbursements, fewer doctors will accept Medicaid patients, and these people will be forced to go without the care they deserve. The law will also drive up the cost of insurance premiums, and gouge families, businesses, hospitals, and doctors with $500 billion in new taxes.

"These new taxes are the last thing our country needs. Our unemployment rate has remained above 8% for 41 straight months. Imposing new taxes, regulations, and penalties threatens our recovery and will cause companies cut jobs in order to remain above water. In order to tackle the most basic problems of our healthcare system, we must fully repeal the new healthcare law, and replace it with real reforms that cut costs and preserve quality care."

(Source: 6.28.12 "Moody's Sees Affordable Care Act Pressuring Hospitals' Thomson/Reuters)

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