Tag: Treasury

Eliminating Waste, Fraud, and Abuse in Medicaid My Administration has been relentlessly committed to rooting out waste, fraud, and abuse in Government programs to preserve and protect them for those who rely most on them. The Medicaid program was designed to be a program to compassionately provide taxpayer dollars to healthcare providers who offer care to the most vulnerable Americans. To keep payments reasonable, billable costs for such care were historically capped at the same level that healthcare providers could receive from Medicare. The State and Federal Governments jointly shared this cost burden to ensure those of lesser means did not go untreated. Under the Biden Administration, States and healthcare providers were permitted to game the system. For example, States “taxed” healthcare providers, but sent the same money back to them in the form of a “Medicaid payment,” which automatically unlocked for healthcare providers an additional “burden-sharing” payment from the Federal Government. Through this gimmick, the State could avoid contributing money toward Medicaid services, meaning the State no longer had a reason to be prudent in the amount of reimbursement provided. Instead of paying Medicare rates, many States that utilize these arrangements now pay the same healthcare providers almost three times the Medicare amount, a practice encouraged by the Biden Administration. These State Directed Payments have rapidly accelerated, quadrupling in magnitude over the last 4 years and reaching 0 billion in 2024 alone. This trajectory threatens the Federal Treasury and Medicaid’s long-term stability, and the imbalance between Medicaid and Medicare patients threatens to jeopardize access to care for our seniors. I pledged to protect and improve these important Government healthcare programs for those that rely on them. Seniors on Medicare and Medicaid recipients both deserve access to quality care in a system free from the fraud, waste, and abuse, that enriches the unscrupulous and jeopardizes the programs themselves. We will take action to continue to love and cherish the Medicare and Medicaid programs to ensure they are preserved for those who need them most. The Secretary of Health and Human Services shall therefore take appropriate action to eliminate waste, fraud, and abuse in Medicaid, including by ensuring Medicaid payments rates are not higher than Medicare, to the extent permitted by applicable law. This memorandum is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person. DONALD J. TRUMP

Eliminating Waste, Fraud, and Abuse in Medicaid My Administration has been relentlessly committed to rooting out waste, fraud, and abuse in Government programs to preserve and protect them for those who rely most on them. The Medicaid program was designed to be a program to compassionately provide taxpayer dollars to healthcare providers who offer care to the most vulnerable Americans. To keep payments reasonable, billable costs for such care were historically capped at the same level that healthcare providers could receive from Medicare. The State and Federal Governments jointly shared this cost burden to ensure those of lesser means did not go untreated. Under the Biden Administration, States and healthcare providers were permitted to game the system. For example, States “taxed” healthcare providers, but sent the same money back to them in the form of a “Medicaid payment,” which automatically unlocked for healthcare providers an additional “burden-sharing” payment from the Federal Government. Through this gimmick, the State could avoid contributing money toward Medicaid services, meaning the State no longer had a reason to be prudent in the amount of reimbursement provided. Instead of paying Medicare rates, many States that utilize these arrangements now pay the same healthcare providers almost three times the Medicare amount, a practice encouraged by the Biden Administration. These State Directed Payments have rapidly accelerated, quadrupling in magnitude over the last 4 years and reaching $110 billion in 2024 alone. This trajectory threatens the Federal Treasury and Medicaid’s long-term stability, and the imbalance between Medicaid and Medicare patients threatens to jeopardize access to care for our seniors. I pledged to protect and improve these important Government healthcare programs for those that rely on them. Seniors on Medicare and Medicaid recipients both deserve access to quality care in a system free from the fraud, waste, and abuse, that enriches the unscrupulous and jeopardizes the programs themselves. We will take action to continue to love and cherish the Medicare and Medicaid programs to ensure they are preserved for those who need them most. The Secretary of Health and Human Services shall therefore take appropriate action to eliminate waste, fraud, and abuse in Medicaid, including by ensuring Medicaid payments rates are not higher than Medicare, to the extent permitted by applicable law. This memorandum is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person. DONALD J. TRUMP

MEMORANDUM FOR THE SECRETARY OF HEALTH AND HUMAN SERVICES THE ADMINISTRATORS OF THE CENTERS FOR MEDICARE AND MEDICAID…

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GOP senators push to cement core Musk-inspired DOGE savings at Treasury

GOP senators push to cement core Musk-inspired DOGE savings at Treasury

A Group of Republican Lawmakers Push to Codify Treasury Reforms A group of Republican lawmakers is working to…

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Joe Biden’s activist Treasury issuance continues under Donald Trump

Joe Biden’s activist Treasury issuance continues under Donald Trump

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this…

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Treasury Secretary Bessent Warns Americans Will Suffer Largest Tax Hike in History If ‘One Big Beautiful Bill’ Is Not Passed – Publishes Thread on X to Explain Benefits of Bill |

Treasury Secretary Bessent Warns Americans Will Suffer Largest Tax Hike in History If ‘One Big Beautiful Bill’ Is Not Passed – Publishes Thread on X to Explain Benefits of Bill |

U.S. Treasury Secretary Scott Bessent took to X (formerly Twitter) on Wednesday, expressing his enthusiastic endorsement of President…

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Treasury secretary Scott Bessent insists US will ‘never default’ on its debt

Treasury secretary Scott Bessent insists US will ‘never default’ on its debt

Unlock the White House Watch newsletter for free Treasury secretary Scott Bessent has reassured the public that the…

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Investors are piling into big, short Treasury bets with Warren Buffett

Investors are piling into big, short Treasury bets with Warren Buffett

Bond investors are closely monitoring the latest movements in prices and yields to gain insights into the state…

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Bitcoin Treasury Firm Twenty One Capital Brings Total Fundraise to 5M

Bitcoin Treasury Firm Twenty One Capital Brings Total Fundraise to $685M

Bitcoin BTC treasury firm Twenty One has recently announced that it has successfully raised an additional $100 million…

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Treasury yields rise, dollar down amid fiscal concerns after US downgrade

Treasury yields rise, dollar down amid fiscal concerns after US downgrade

The financial markets experienced some turbulence on Monday as concerns about the U.S. debt load and a tax-cut…

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The US Treasury just shocked Americans with a 8B surplus — its 2nd biggest monthly surplus in history

The US Treasury just shocked Americans with a $258B surplus — its 2nd biggest monthly surplus in history

Budget deficits are a common occurrence in the realm of government finance, especially when it comes to the…

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UK overtakes China as second-largest US Treasury holder

UK overtakes China as second-largest US Treasury holder

China’s recorded holdings of Treasuries have fallen below those of the UK for the first time since the…

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US, China Reach Deal To Cut Trade Deficit, Says US Treasury Secretary Scott Bessent

US, China Reach Deal To Cut Trade Deficit, Says US Treasury Secretary Scott Bessent

Geneva: US Treasury Secretary Scott Bessent has reported significant progress in talks with China's top economic officials aimed…

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US Treasury Secretary Concludes Talks with China after 8 Hours of Meetings – Trade Talks Will Resume Sunday |

US Treasury Secretary Concludes Talks with China after 8 Hours of Meetings – Trade Talks Will Resume Sunday |

US Treasury Secretary Scott Bessent High-Stakes Talks in Geneva In a diplomatic dance that has become all too…

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