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It's called the the Independent Payment Advisory Board, a panel of unelected bureaucrats that will have dictatorial powers over what gets reimbursed and what doesn't.

Every insurance corporation has such a panel. I've been rejected by my insurance company for care recommended by doctors because their panel decided they won't pay. For example, I had cardiologist-recommended cardiovascular tests rejected by my insurer and had to pay out of pocket. Other tests would only be covered after the fact if it turned out that I had the problem being tested for! Their "death panel" decided my symptoms didn't warrant the tests recommended by my cardiologist.

President Obama's advisory board is mainly charged with winnowing out less effective treatments, which waste a lot of money. Insurers try to do this as well.
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