Soon, Medicare spending is poised to hit a new level that would trigger a provision from the Affordable Care Act, establishing an Independent Payment Advisory Board (IPAB) that would be tasked with proposing policies to achieve a certain amount of savings in Medicare. These policies, or proposed cuts to spending, would automatically take effect unless Congress were to pass similar reductions. These cuts would have a chilling effect on biomedical innovation by reducing incentives for investment in new research and product development.
While the types of cuts IPAB would propose are unknown, it is certain that they will be bad for both seniors and the clinicians who provide their care. Medicare already reimburses physicians less than private insurance, and IPAB-generated cuts would likely widen that gap, forcing more doctors to limit the number of Medicare patients they see.
On behalf of California's life sciences innovators, a sector with over 3,000 firms employing nearly 300,000 people, California Life Sciences Association joins the rest of the biomedical innovation ecosystem in supporting the repeal of IPAB, which would have harmful and long-lasting effects on medical innovation. We call on Congress to support the immediate and full repeal of IPAB.
TAKE ACTION NOW: Call on Congress to protect Medicare and seniors from indiscriminate cuts to spending that could soon be proposed by IPAB. Your voice is critical to nurturing the vibrancy of California's life sciences sector, which relies heavily on advances in science that are fueled by the NIH.
Send a letter, tweet or call your Senator and tell them to immediately repeal IPAB.