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Obama Budget Proposal Cuts Money from Home Health Care

Health care stocks dragged down the stock market yesterday after the White House proposed cutting payments to private insurance plans. The Obama administration’s $3.55 trillion budget plan for 2010 includes cuts to Medicare and Medicaid. Private insurance plans serving Medicare seniors would take the biggest hit, but hospitals, drug manufacturers and home health agencies also face cuts.

The Dow Jones industrial average fell 88.81, or 1.22 percent, to 7,182.08.

The Standard & Poor’s 500 index fell 12.07, or 1.58 percent, to 752.83.

The Nasdaq composite index fell 33.96, or 2.38 percent, to 1,425.43.

What do you think will happen to home health agencies if this new budget proposal is passed into law by Congress? How can we communicate the importance of home health care in saving money by keeping patients out of hospitals?

Give us your comments below.

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