Today, as Ranking Member McDermott said, half of all people with Medicare, 25 million older adults and people with disabilities, are living on annual incomes of $22,500 or less and spending about 15 percent of their household income on healthcare costs as opposed to 5 percent for those under age 65 who are not on Medicare.
McDermott highlights the financial struggles of Medicare beneficiaries.
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Last year, we came together with MACRA. That landmark reform repealed the SGR and already started the process of transforming how we try to pay physicians under Medicare.
Innovation will be central to our efforts to address rising healthcare costs.
None of us on our side who were involved in drawing it up thought for one minute that we had created the Ten Commandments off the mountain, which haven't been changed since Moses brought them down off the mountain.
The best way to improve and sustain Medicare is by expanding it and strengthening it because, unfortunately, there are holes in the program that weaken health security of our beneficiaries.
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