BioCentury
ARTICLE | Politics & Policy

Ryan publishes FY14 budget proposal

March 13, 2013 12:36 AM UTC

House Budget Committee Chairman Paul Ryan (R-Wis.) published the committee's proposed budget resolution for FY14, the first of three proposals expected to be released in the coming weeks. The resolution includes a proposed Medicare exchange under which retired citizens born in 1959 or later would have a choice of private plans competing along side the traditional fee-for-service option. Under the exchange, which would take effect in 2024, every plan would compete in an annual bidding process to determine the federal contribution that seniors would receive to purchase coverage.

The resolution also would repeal the Affordable Care Act, including the Independent Payment Advisory Board (IPAB) and the Medicaid expansion provision of ACA. IPAB was created by ACA to recommend steps to cut Medicare costs if spending exceeds specific triggers, while the Medicaid expansion provision will increase the eligible population by 33% beginning in 2014. The resolution does not specifically address funding for NIH or FDA. ...