Independent Payment Advisory Board
The Independent Payment Advisory Board (IPAB), created by the health law, is designed to help hold down costs in Medicare, the federal health program for seniors and the disabled. Beginning in 2014, in any year in which the Medicare per capita growth rate exceeds a target growth rate, the Independent Payment Advisory Board (IPAB) would be required to recommend Medicare spending reductions. The recommendations would become law unless Congress passed an alternative proposal that achieved the same level of budgetary savings.
MassBio continues to have strong concerns about the powers of the IPAB. Repealing IPAB is essential to protecting American access to quality medical care and is particularly important to populations such as seniors and the uninsured that rely on Medicare.
MassBio is a not-for-profit organization committed to advancing the development of critical new science, technology and medicines that benefit people worldwide.
Founded in 1985, MassBio represents over 600 biotechnology companies, academic institutions, research hospitals, and service organizations involved in life sciences and health care, and works to advance policy and promote education, while providing member programs and events, industry information, and services.