Medicare Sequester Moratorium Act Introduced to Congress
As the COVID-19 pandemic continues to grip the country, and after nearly a year of combating the deadly virus, there is a growing evidence of the toll it is taking on physician practices. The continued negative fiscal impact of the COVID-19 pandemic on physician practices is undeniable.
Recognizing that the challenges associated with the pandemic are continuing, Congress included provisions in the Consolidated Appropriations Act, signed into law last December, that further postponed the Medicare sequester until March 31, 2021. Yet, COVID-19 pandemic will extend well beyond the first quarter of 2021 and, absent additional Congressional intervention, these harmful payment cuts will be re-imposed on April 1, 2021.
Thankfully, H.R. 315 the “Medicare Sequester COVID Moratorium Act” has been recently introduced in Congress. This bipartisan legislation would continue the current Medicare sequester moratorium for the duration of this public health emergency. If Congress doesn’t act by March 31, the Medicare payment sequester will take effect, triggering a devastating financial impact on physician practices across the country, many of which are already strained to the breaking point.