Omnibus Bill Which Could Avert Pending Medicare Cuts, Passed by Senate and House, Awaiting Signature by the President
On December 23, the House of Representatives passed an amended version of the $1.7 trillion Omnibus appropriations bill which passed the Senate on December 22. That same day, Congress passed a short-term bill to keep the government open which moves the funding deadline to December 30. This will allow time for the more than 4,100-page legislation to go through the enrollment process and be sent to President Biden’s desk for signature.
Key provisions included in the bill include:
- Lifting the 4% Pay-As-You-Go(PAYGO) cuts to Medicare payments for two years
- Extending PAMA-related clinical laboratory fee schedule cuts and data reporting requirements one year until 2024
- Reducing the physician fee schedule conversion factor cuts from 4.5% to 2% for 2023 and around 3% for 2024