HEALTH CAREHospitals, doctors and other Medicare providers will see a 2 percent cut in government reimbursements. But they aren't complaining because the pain could be a lot worse if there was a deal to reduce federal deficits. The automatic cuts would reduce Medicare spending by about $100 billion over a decade. But President Barack Obama had put on the table $400 billion in health care cuts, mainly from Medicare. Republicans wanted more. Obama's health overhaul law is expected to roll out on time and largely unscathed by the cuts. Part of the reason is that the law's major subsidies to help uninsured people buy private health coverage are structured as tax credits. So is the Affordable Care Act's assistance for small businesses. Tax credits have traditionally been exempted from automatic cuts.
How Budget Cuts Could Affect You
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