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House Republicans release proposed FY 2013 Budget

Rep. Paul Ryan, Chairman of the House Budget Committee, released his version of the House’s fiscal year 2013 budget on Tuesday. The FY 2013 budget proposes significant overhauls of the current Medicare, Medicaid and CHIP programs. Under Chairman Ryan’s Budget, current Medicare beneficiaries will be able to maintain their current service structure while future seniors will be given a choice of staying under a traditional Medicare fee-for-service (FFS) plan or joining a Medicare-approved private plan and receiving premium support. The Budget would convert both the Medicaid and CHIP programs to full block grants, eliminating the current structure of State-Federal matching funds for beneficiary services. These proposals will cut billions in Medicare and Medicaid spending. House Democrats are expected to release and alternative budget before the end of the week.  Both proposals will likely be considered by the House Budget Committee on Wednesday, March 21. It is expected that the House will vote on Chairman Ryan’s plan on Wednesday, March 28 or Thursday, March 29, before lawmakers leave for spring recess.

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