UPDATE: Senate Passes Medicare, Medicaid and SCHIP Extension Act of 2007

On December 18, 2007, the U.S. Senate passed the Medicare, Medicaid and SCHIP Extension Act of 2007 (S.2499) by unanimous consent.  Among other things, the Act would prevent the 10.1 percent cut to Medicare physician payments beginning January 1, 2008 and instead gives a 6-month 0.5 percent increase for physicians through June 30, 2008.  Under the Act, the physician payment changes would be offset, in part, by  an adjustment to the  Medicare  Advantage  stabilization fund.  The Act has been sent to the U.S. House of Representatives.