Discusses the Tax Equity and Fiscal Responsibility Act (TEFRA), which ushered in tax reforms.
Written in 2009; 750 words; 3 sources; APA; $ 26.95
Paper Summary:
The paper introduces, discusses, and analyzes the topic of the Tax Equity and Fiscal Responsibility Act (TEFRA) of 1982. Specifically it analyzes the Act, including its origin and purpose, as it relates to the health care industry. The paper notes that the U.S. Treasury and Internal Revenue Service authored the Act in an attempt to gain tax revenues by closing some tax loopholes and increasing taxes on many businesses. The paper comments that the Act greatly affected many aspects of the health care industry, because it altered Medicare reimbursement procedures for many facilities.
From the Paper:
"The Act was important because it altered healthcare reimbursement, diagnosis, and review, and it is still in practice today, which is proving to be costly for many organizations because the base rates for reimbursement have not changed since the Act's inception. For example, they set the TEFRA limits in the 1980s, when the Act first appeared, today, they are finding these limits are not staying current with rising healthcare costs, and units are consistently over the limits and are not being fully reimbursed for services and treatments. In addition, the DRGs provision made it necessary to employ many more experienced medical coders to help determine what treatments and conditions were covered and reimbursable, and some facilities have had trouble filling these positions with qualified individuals".
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