Supporting the Obama Administration’s goals of healthcare reform and expanded healthcare coverage, hospitals have agreed to give up $155 billion of future payments from the government.

The agreement between the Administration, Congress, and three hospital associations (The American Hospital Association, the Catholic Health Association of the United States, and the Federation of American Hospitals) releases money that would have been paid to hospitals so it can be applied instead to finance the overhaul of American health care.

The Associated Press reported that, as part of the agreement, the Administration will not ask the hospitals to sustain additional cuts in funding that had been under discussion.

In a joint statement issued today, the hospital groups said: “Now for the first time, coverage for all is within our nation’s reach as the agreement based upon the Finance Committee proposal will cover 95 percent of all Americans. As we take this historic step, we recognize that everyone must do their part if we are to succeed. This proposal calls on employers, individuals, unions, suppliers, insurers and other providers to do their part as well. Make no mistake that hospitals will do our part to get virtually every American covered. ”

Last 5 posts by Joe Hage

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