The American Taxpayer Relief Act of 2012 and Anticipated Medicare and Medicaid Payment Reforms

On January 1, 2013, the U.S. Congress approved the American Taxpayer Relief Act of 2012 (the Act), concluding a protracted debate on how to prevent the United States from falling over the proverbial “fiscal cliff.” President Obama signed the legislation into law on January 2, 2013.

The legislation extends a number of individual and business taxes and unemployment insurance, but is more noteworthy for the health care community for the more than 40 Medicare and Medicaid changes, many of which will significantly affect payment for and regulation of health care items and services. The legislation also is notable for what it does not include: numerous Medicare and Medicaid changes that would have more dramatically altered the payment and regulatory landscape, and which the health care industry feared would be part of this legislation. While some in the health care industry may be breathing a sigh of relief over bullets dodged, the reprieve may be short-lived, as the Act sets Congress on a course to again consider substantial changes to Medicare, Medicaid and other entitlement programs as soon as February 2013.

Please see full white paper below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Topics:  American Taxpayer Relief Act, Fiscal Cliff, Income Taxes, Medicaid, Medicare

Published In: Administrative Agency Updates, Elections & Politics Updates, Health Updates, Insurance Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© McDermott Will & Emery | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »