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16 Matching News Items
1.
Fact Sheet: 2024 Social Security and Medicare Trustees Reports (PDF)
The Board of Trustees, Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds, and the Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
May 6, 2024
The Board of Trustees, Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds, and the Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
May 6, 2024
"The Old-Age and Survivors Insurance (OASI) Trust Fund will be able to pay 100 percent of total scheduled benefits until 2033, unchanged from last year's report. At that time, the fund's reserves will become depleted and continuing program income will be sufficient to pay 79 percent of total scheduled benefits.... The Hospital Insurance (HI) Trust Fund will be able to pay 100 percent of total scheduled benefits until 2036, 5 years later than reported last year. At that point, that fund's reserves will become depleted and continuing program income will be sufficient to pay 89 percent of total scheduled benefits."
2.
2024 Annual Report of the Boards of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
May 6, 2024
The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
May 6, 2024
261 pages. "The Medicare projections have been significantly affected by the enactment of the Inflation Reduction Act of 2022 (IRA).... The total effect of the IRA is to reduce government expenditures for Part B, to increase expenditures for Part D from 2027 through 2030, and to decrease Part D expenditures beginning in 2031.... In the year of asset depletion, which is projected to be 2036 in this report, HI revenues are projected to cover 89 percent of incurred program costs."
3.
2023 Annual Report of the Boards of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds (PDF)
Centers for Medicare & Medicaid Services [CMS], U.S. Department of Health and Human Services [HHS]
Mar. 31, 2023
Centers for Medicare & Medicaid Services [CMS], U.S. Department of Health and Human Services [HHS]
Mar. 31, 2023
267 pages. "The Medicare projections have been significantly affected by the enactment of the Inflation Reduction Act of 2022 (IRA).... The Board of Trustees assumes that the IRA will affect the ultimate long-range growth rates for Part B and Part D drug spending differently.... Actual fee-for-service per capita spending has been consistently below the pre-pandemic projections throughout the public health emergency ... [T]here is an unusually large degree of uncertainty with the COVID-related impacts [and] future projections could change significantly as more information becomes available.... The estimated depletion date for the HI trust fund is 2031, 3 years later than projected in last year's report. "
4.
2022 Annual Report of the Medicare Board of Trustees (PDF)
The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
June 3, 2022
The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
June 3, 2022
263 pages. "The estimated depletion date for the HI trust fund is 2028, 2 years later than projected in last year's report.... For the 75-year projection period, the HI actuarial deficit has decreased to 0.70 percent of taxable payroll from 0.77 percent in last year's report.... [T]he COVID-19 pandemic has had significant effects on the short-term financing and spending of the Medicare program, but the financial status of the trust funds has not materially changed. The Trustees project that expenditures will increase in future years at a faster pace than either aggregate workers' earnings or the economy overall and that, as a percentage of GDP, spending will increase from 3.9 percent in 2021 to 6.5 percent by 2096."
5.
Text of the 2016 Annual Report of the Board of Trustees of the Medicare Trust Funds (PDF)
The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Fund
June 22, 2016
The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Fund
June 22, 2016
267 pages. "Notwithstanding recent favorable developments, current-law projections indicate that Medicare still faces a substantial financial shortfall that will need to be addressed with further legislation. Such legislation should be enacted sooner rather than later to minimize the impact on beneficiaries, providers, and taxpayers.... Medicare's costs under current law rise from their current level of 3.6 percent of GDP to 5.6 percent in 2040 and to 6.0 percent in 20 90. Under the illustrative alternative, in which adherence to the MACRA and ACA cost-reducing measures erodes, projected costs would rise to 6.2 percent of GDP in 2040 and to 9.1 percent in 2090."
6.
Text of the 2015 Annual Report of the Board of Trustees of the Medicare Trust Funds (PDF)
The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
July 23, 2015
The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
July 23, 2015
265 pages. "While the physician payment updates and new incentives ... avoid the significant short-range physician payment issues that would have resulted from the SGR system approach, they nevertheless raise important long-range concerns.... [The ACA] introduced large policy changes and additional projection uncertainty.... The methodology for projecting Medicare finances assumes a substantial long-term reduction in per capita health expenditure growth rates relative to historical experience, to which the ACA's cost -reduction provisions would add substantial further savings. Notwithstanding recent favorable developments, current-law projections indicate that Medicare still faces a substantial financial shortfall that will need to be addressed with further legislation."
7.
2014 Annual Report of the Boards of Trustees of the Medicare Trust Funds (PDF)
The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
July 28, 2014
The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
July 28, 2014
283 pages. Excerpt: "The estimated depletion date for the HI trust fund is 2030, 4 years later than was shown in last year's report. As in past years, the Trustees have determined that the fund is not adequately financed over the next 10 years.... The Trustees project slight surpluses in 2015 through 2022, with a return to deficits thereafter until the fund becomes depleted in 2030."
8.
Hearing on the 2013 Medicare Trustees Report
Health Subcommittee, Committee on Ways and Means, U.S. House of Representatives
June 13, 2013
Health Subcommittee, Committee on Ways and Means, U.S. House of Representatives
June 13, 2013
"[The] House Ways and Means Health Subcommittee ... will hold a hearing on the recently released 2013 Annual Report of the Boards of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds. This hearing will allow the Subcommittee to focus specifically on the Medicare program's financial status and changes from the Trustees previous reports. The Subcommittee will hear testimony from Medicare's two public trustees. The hearing will take place on Thursday, June 20, 2013[.]"
9.
Text of 2013 Medicare Trustees Report (PDF)
The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
May 31, 2013
The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
May 31, 2013
"The estimated depletion date for the HI trust fund is 2026, 2 years later than was shown in last year's report. As in past years, the Trustees have determined that the fund is not adequately financed over the next 10 years. HI taxable earnings in 2012 were slightly lower than last year's estimate.... Growth in HI expenditures has averaged 5.6 percent annually over the last 5 years and is projected to average 3.7 percent over the next 5 years.... The difference between Medicare's total outlays and its "dedicated financing sources" reaches an estimated 45 percent of outlays in fiscal year 2013, the first year of the projection."
10.
Official Report on Medicare: Text of the 2012 Annual Report of the Boards of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds (PDF)
The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
Apr. 23, 2012
The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds
Apr. 23, 2012
"The financial outlook for Medicare is ... uncertain because some provisions of current law that are designed to reduce costs may not be sustained. The clearest example of this issue is the sustainable growth rate ... formula for physician fee schedule payment levels. The projections in this report assume that, as required by current law, CMS will implement a reduction in Medicare payment rates for physician services of more than 30 percent at the start of 2013. However, it is a virtual certainty that lawmakers, cognizant of the disruptive consequences of such a sudden, sharp reduction in payments, will override this reduction just as they have every year since 2003."
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