The IPAB is charged with making binding decisions for Medicare payment cuts should the cost of the program grow more than 1 percent faster than the rest of the economy. That’s not likely to make the IPAB’s members very popular, especially among their likely former colleagues in the healthcare industry.
Members would serve a six-year term, during which they would work full time and be prohibited from “any other business, vocation or employment,” according to the report. IPAB member salaries will be $165,300.
The greatest talent may pass on opportunities to serve on the board, but most agree that the seats will be filled, according to the report. Just in case, the law permits the HHS secretary to take on the IPAB’s responsibility if the board cannot or does not produce a plan.
Medicare’s recent growth has slowed to match the economy at large for the past three years, so if the IPAB had existed, no changes would have been necessary.
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