As many of you are aware, barring a last-minute bridging of the vast partisan gap in our nation’s capital, across the board cuts through sequestration are to go into effect today, March 1st. As we understand it, due to a technicality in the stop-gap continuance that was passed by Congress on January 1, 2013, cuts to Medicare payments will not be implemented until April 1st.
The impact this has on providers is significant: all Medicare claims processed and paid by CMS after April 1st will reflect the 2% cut imposed by sequestration. Claims processed and paid by March 31st will be done at the current rate.
We urge all members that serve residents on Medicare to submit all eligible claims for payment to their intermediaries as soon as possible to minimize the sequestration impact.
LeadingAge Kentucky has been and will continue to monitor all activity related to sequestration and inform members as developments unfold.
article from Leading Age Kentucky -March 2013