5 things physicians need to know about Biden's $7.3 trillion budget

President Joe Biden included a number of healthcare initiatives in his $7.3 trillion budget, proposed March 11. 

Here are five key points that physicians need to know:

1. Biden's proposed budget would indefinitely extend the Medicare hospital insurance trust fund by increasing the Medicare tax rate on incomes above $400,000, closing loopholes in existing taxes and directing revenue from the net investment income tax. He also proposed allowing Medicare to negotiate lower drug prices and limit Medicare Part D cost-sharing for high-value generic drugs to at most $2 per month.

2. The budget includes a $150 billion investment over 10 years to strengthen and expand Medicaid home- and community-based services. It also would provide Medicaid-like coverage to individuals in states that have not adopted Medicaid expansion, and offer financial incentives for states to maintain expansions.

3. The proposed budget builds on the $2 billion for USDA broadband programs, provides $122 million for the ReConnect program and includes $6 billion for the Affordable Connectivity Program. The budget also allows a ban on unwarranted telehealth and certain outpatient commercial insurance service facility fees.

4. The budget includes a $75 million investment in the Administration for Strategic Preparedness and Response to manufacture more medicines and medical countermeasures. It also sets aside $12 million to strengthen the FDA's ability to address potential disruptions and shortage threats.

5. The budget notes that more than 60 million Americans live in rural areas and would invest in additional assistance for rural hospitals

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