Objective: The health care recommendations in A Bipartisan Path Forward are part of a comprehensive deficit reduction to bring the debt under control. To start to address rising overall health care costs and an aging population, two major drivers of future deficits, we believe at least $585 billion in savings should be enacted through 2023, along with substantially greater savings over the following decade.
Process: The plan was developed by the Moment of Truth Project co-chairs and its staff after consultations with health care and budget policy experts from across the spectrum. It builds upon the earlier recommendations from the National Commission on Fiscal Responsibility and Reform (Fiscal Commission) and picks up on policy discussions from recent budget negotiations.
Methodology: Savings targets of policies are based on estimates from the Congressional Budget Office, Office of Management and Budget, and the Medicare Payment Advisory Commission.
Total savings: Federal savings of $585 billion from 2014 through 2023.
Other related work:
The Moment of Truth Project has also recently released Modernizing the Medicare Benefit: A Closer Look at Reforming Medicare Cost-Sharing Rules, which compares policy options to reform Medicare's current cost-sharing system.
The Moment of Truth Project co-chairs Erskine Bowles and former Senator Alan Simpson also led the National Commission on Fiscal Responsibility and Reform Their 2010 report A Moment of Truth is available at: http://www.momentoftruthproject.org/sites/default/files/TheMomentofTruth12_1_2010.pdf
For more detailed description of the policies in this report, please see:
A Bipartisan Path Forward to Securing America's Future, Moment of Truth Project, April 2013.