White House would veto bill to end Medicare panel

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White House would veto bill to end Medicare panel
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) - The White House said Tuesday that it would veto a House Republican effort to shut down the Independent Payment Advisory Board, a Medicare cost-saving board created by President Barack Obama's health care law. The House bill "would eliminate an important safeguard that, under current law, will help reduce the rate of Medicare cost growth responsibly while protecting Medicare beneficiaries and the traditional program," the Obama administration said in a statement of administration policy. The board is structured like an independent commission to close military bases. It would be given authority to bring down costs of Medicare with Congress given the power to override the decision in a process starting in 2014. The White House said it also objected the plans to pay for the bill with medical malpractice reform. The administration said it opposes the provision in the bill that puts caps on malpractice awards. The House plans to consider the measure on Wednesday and Thursday. The legislation is not expected to pass the Democratic-controlled Senate.