In it, but not of it. TPM DC

REVEALED: Cantor's Secret Memo For $350bn In Cuts

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Newscom

Though the memo lacks key details about many of the cuts, it contains enough to show where, exactly, Republicans hope to achieve savings. Its largest single source of savings -- $100 billion worth -- comes from what the memo terms "Medicaid FMAP Reform," or matching funds to state governments for providing Medicaid services.

It calls for up to $53 billion in savings from instituting new cost-sharing protocols for so-called Medigap policies -- supplemental insurance sold to Medicare beneficiaries to cover the cost of services not covered, or partially covered by Medicare. Specifically, it would institute a $530 out-of-pocket premium for certain Medigap plans. It also calls for over $80 billion in additional cost-shifting for home health coverage, and for medical and prescription drug coverage.

More information when we get it, but for now, read the memo here.

About The Author

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Brian Beutler is TPM's senior congressional reporter. Since 2009, he's led coverage of health care reform, Wall Street reform, taxes, the GOP budget, the government shutdown fight and the debt limit fight. He can be reached at brian@talkingpointsmemo.com

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