March 16, 2023
Highlights of Biden’s FY2024 Health Budget
In a new insight, Health Care Policy Analyst Jackson Hammond breaks down the key health care proposals in President Biden’s fiscal year 2024 budget.
- The budget proposes $144 billion in discretionary spending for the Department of Health and Human Services, with a large amount of additional mandatory spending added on.
- The Biden Administration claims this budget would extend the solvency of the Medicare Part A hospital insurance trust fund by 25 years, namely through a proposed combination of increasing the number of drugs that Medicare can negotiate and increasing taxes.
- The president’s budget also proposes to expand Medicaid-like coverage to eligible individuals in states that did not expand Medicaid under the Affordable Care Act, make permanent the expanded premium tax credits from the Inflation Reduction Act, invest in pandemic preparedness, “transform” behavioral health care, and make funding for the Indian Health Service mandatory, among other proposals.