After an all-night session, the House of Representatives on June 24 passed legislation, H.R. 3962, which will "fix" the sustainable growth rate formula for the next six months, and President Barack Obama signed it into law on June 25. Retroactive to services delivered on or after June 1, the Medicare Conversion Factor will be raised by 2.2 percent.
The fix will be in place for services provided between June 1 and Nov. 30. Unless Congress takes steps between now and Nov. 30, the 2.2 percent increase will cease on Dec. 1 and the 21.3 percent reduction will be restored.
“The six-month Medicare patch Congress passed [last night] is a very temporary reprieve for seniors and baby boomers who rely on the promise of Medicare,” said Cecil B. Wilson, MD, president of the American Medical Association. "Delaying the problem is not a solution. It doesn’t solve the Medicare mess Congress has created with a long series of short-term Medicare patches over the last decade – including four to avert the 2010 cut alone. “