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New Economic Impact Study: Obama Administration Implementation of Bush-Era Medicare Regulation Will Cost U.S. $2.5 Billion in Business Activity, Cut Over 30,000 Jobs
Date:5/12/2009

AHCA, Alliance Warn Sizable Job Losses in Key Economic Sector Undermines Obama Administration's Economic Stimulus Objectives, Contrary to Broader Health Reform Goals

WASHINGTON, May 12 /PRNewswire-USNewswire/ -- In releasing a new economic impact study detailing the importance of the skilled nursing facility (SNF) sector to the nation's economic activity and employment base, leaders of the American Health Care Association (AHCA) and Alliance for Quality Nursing Home Care today warned implementation by the Centers for Medicare and Medicaid Services (CMS) of a Bush-era Medicare regulation will substantially undercut the Obama Administration's economic stimulus and job creation policies, and undermine the stability of an important platform for effective health care reform. While AHCA and the Alliance applaud and support the Administration's efforts to reduce the national debt, the leaders cautioned of the unintended consequences of the proposed Medicare cutes on patients and caregivers.

The economic impact analysis finds the Administration's proposed one-year $1.05 billion reduction in Medicare Part A SNF expenditures -- projected to be a $7.23 billion five-year cut by the Administration's proposed budget -- has a substantial, negative impact on America's local, state, and national economies. The estimated economic impact on the U.S. economy in the year ahead, according to the study, will be a reduction of $2,538,574,941 in business activity, a reduction of $1,102,133,619 in labor income, and a loss of 30,323 jobs. AHCA and the Alliance will also be releasing state-specific economic and job loss data in the days ahead.

The following schedule illustrates the direct, indirect, and induced impact of the proposed Medicare cut on the U.S. economy for FY 2010:

Economic Impact of Medicare Nursing Facility Payment Cutback for Fiscal Year 2010

United States

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SOURCE American Health Care Association
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