WASHINGTON, DC—The non-partisan Congressional Budget Office scored the U.S. Senate Finance Committee healthcare bill today, and stated it would cut $404 billion in Medicare and Medicaid, U.S. Rep. Elton Gallegly (R-Ventura & Santa Barbara Counties) noted.

“This bill will hurt seniors by limiting access, increasing costs and by lowering health care efficiencies,” Gallegly said. “Medicare needs to be reformed, not gutted.”

According to the CBO score, in addition to cutting $404 billion in Medicare and Medicaid, the bill also will impose more than $310 billion in new taxes and fees during the first 10 years.

The Medicare cuts include:

• $133 billion to Medicare Advantage

• $128.8 billion to hospitals

• $56 billion to home health care

• $19.8 billion to Medicare Part D

• $14.6 billion to skilled nursing facilities

• $23.1 billion to Part B Schedules, except physician services

• $11 billion to hospices

• $3 billion to medical imaging

• $100 million for Medigap