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March 05, 2014 AT 5:59 AM
President Barack Obama's budget plan for 2015 would save $402 billion from the Medicare and Medicaid government health care programs for the elderly and poor over the next 10 years, primarily due to reduced reimbursement to health care providers and drugmakers. A White House budget proposal for the fiscal year beginning October 1, released on Tuesday, would save more than $350 billion by pursuing a familiar menu of options that range from increased drug rebates to more efficient post-acute care, reduced hospital admissions and new means testing for Medicare.