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As Fiscal Cliff Approaches, Medicare Faces Possible Reductions

A new article published by Reuters reports as the fiscal cliff approaches, Democrats and Republicans are drawing closer to cutting Medicare spending. “The proposals most often discussed that would directly affect Medicare’s 52 million beneficiaries are more means-testing, meaning higher costs for wealthier retirees, and raising the Medicare eligibility age from 65 to 67.” The cutbacks, in conjunction with spending reductions for other healthcare programs, could garner potential savings of $400 billion to $600 billion over 10 years.

Read the article published by Reuters.