“DOC FIX” BILL SIGNED INTO LAW

The “doc fix” bill has been signed into law.  Although formally known as the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act, the legislation is more commonly known as the “doc fix” bill because it holds off a scheduled drop in payments to doctors. The Act was passed by the Senate on June 18 and by the House on June 24.

The Act reverses a 21 percent payment cut for doctors in Medicare and TRICARE, updates the physician payment formula through November 30, 2010, and provides temporary, targeted funding relief for single employer and multiemployer pension plans that suffered losses in asset value as a result of the 2008 financial downturn.  The Act also includes an information sharing provision to help identify fraudulent Medicare providers.

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