Jun. 5 at 6:32 PM
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Senate Republicans consider Medicare spending cuts, Bloomberg says
Senate Republicans are considering cuts to Medicare spending to help pay for Donald Trump's legislative package, Rachel Cohrs Zhang and Steven Dennis of Bloomberg report.
Lawmakers are considering cutting payments to health insurance companies that run private Medicare plans, which could open up hundreds of billions of dollars in potential savings for the federal government that Republicans could use to fund tax cuts, but Senate Republicans are divided on whether to include changes to Medicare Advantage in the tax bill, three people familiar with the debate told Bloomberg.
House Republicans largely avoided touching Medicare in their version of the legislation, Bloomberg points out. Publicly traded companies in the medical insurance space include CVS Health (CVS), Centene (CNC), Cigna (CI), Elevance Health (ELV), Humana (HUM), Molina Healthcare (MOH) and UnitedHealth (UNH).
