Download or read book Medicare Financing and Insolvency Projections written by Shawn Palmer and published by Nova Science Publishers. This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Medicare is the nation's health insurance program for individuals aged 65 and over and certain disabled persons. Medicare consists of four distinct parts: Part A, or Hospital Insurance (HI); Part B, or Supplementary Medical Insurance; Part C, or Medicare Advantage; and Part D, the prescription drug benefit. The 2012 report of the Medicare Board of Trustees estimates that the HI trust fund will become insolvent in 2024. Although the Medicare trustees report that the financial outlook for the Medicare program appears to have improved as a result of the Affordable Care Act, they caution that the projections are more uncertain than normal, due to the potential for future expenditure reductions not to materialize. This book provides an overview of how the Medicare program is financed, including a description of the Medicare trust funds and a summary of key findings and estimates from the 2012 Report of the Medicare Board of Trustees regarding 2011 program operations and future financial soundness.
Download or read book Medicare written by Bradford Rodgers and published by Nova Snova. This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Medicare is the nations health insurance program for persons aged 65 and older and certain disabled persons. Medicare consists of four distinct parts: Part A (Hospital Insurance, or HI); Part B (Supplementary Medical Insurance, or SMI); Part C (Medicare Advantage, or MA); and Part D (the outpatient prescription drug benefit). Medicare covered over 58 million people in 2017 and has wide-ranging impact on the health-care sector and the overall U.S. economy. The Part A program is financed primarily through payroll taxes levied on current workers and their employers; these taxes are credited to the HI Trust Fund. From its inception, the HI Trust Fund has faced a projected shortfall. The 2018 Medicare Trustees Report projects that, under intermediate assumptions, the HI Trust Fund will become insolvent in 2026, three years earlier than estimated in the prior years report as discussed in chapter 1. As reported in the next 2 chapters, spending under the program (except for a portion of administrative costs) is considered mandatory spending and is not subject to the appropriations process. Thus, there generally are no limits on annual Medicare spending. Medicare is most acutely impacted by the sequestration of mandatory funds, since Medicare benefit payments are considered mandatory spending. Special sequestration rules limit the extent to which Medicare can be reduced in a given fiscal year. Chapter 4 focuses on reducing expenditures, unnecessary utilization, and improper payments through prior authorization. The Centers for Medicare & Medicaid Services (CMS) has begun using prior authorization in Medicare through a series of fixed-length demonstrations designed to measure their effectiveness, and one permanent program. The billions of dollars in Medicare outlays as well as program complexity make it susceptible to improper payments, including fraud. Although there are no reliable estimates of fraud in Medicare, in fiscal year 2017 improper payments for Medicare were estimated at about $52 billion. The last 2 chapters address ways to prevent and manage Medicare fraud.
Download or read book Medicare written by Patricia A. Davis and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This report focuses on the two separate trust funds that fund Medicare, the Hospital Insurance (HI) trust fund and Supplementary Medical Insurance (SMI) trust fund. Almost from its inception, the HI trust fund has faced a projected shortfall and eventual insolvency. Because of the way it is financed, the SMI trust fund cannot become insolvent; however, the Medicare Trustees continue to express concerns about the rapid growth in SMI costs.
Download or read book Medicare Financing written by Patricia A. Davis and published by . This book was released on 2012-06-20 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Medicare is the nation's health insurance program for individuals aged 65 and over and certain disabled persons. Medicare consists of four distinct parts: Part A, or Hospital Insurance (HI); Part B, or Supplementary Medical Insurance; Part C, or Medicare Advantage; and Part D, the prescription drug benefit. Contents of this report: Intro.; Medicare Trust Funds; 2011 Medicare Program Operations; Short-Range Financial Soundness (10 Years); Projected Date of HI Trust Fund Insolvency; Long-Range Financial Soundness (75 years); Medicare Funding Warning ("Medicare Trigger"); Medicare Expenditures and the Federal Budget. Charts and tables. This is a print on demand edition of an important, hard-to-find report.
Download or read book Medicare Financing written by Patricia A. Davis and published by CreateSpace. This book was released on 2012-06-12 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Medicare is the nation's health insurance program for individuals aged 65 and over and certain disabled persons. Medicare consists of four distinct parts: Part A, or Hospital Insurance (HI); Part B, or Supplementary Medical Insurance (SMI); Part C, or Medicare Advantage (MA); and Part D, the prescription drug benefit. The Part A program is financed primarily through payroll taxes levied on current workers and their employers; these are credited to the HI trust fund. The Part B program is financed through a combination of monthly premiums paid by current enrollees and general revenues. Income from these sources is credited to the SMI trust fund. Beneficiaries can choose to receive all their Medicare services, except hospice, through managed care plans under the MA program; payment is made on their behalf in appropriate parts from the HI and SMI trust funds. A separate account in the SMI trust fund accounts for the Part D drug benefit; Part D is financed through general revenues, beneficiary premiums, and state contributions. The HI and SMI trust funds are overseen by a board of trustees that makes annual reports to Congress. The 2012 report of the Medicare Board of Trustees estimates that the HI trust fund will become insolvent in 2024, the same as it had predicted in the 2011 report. This recent projection still postpones depletion further in the future than the year of 2017, as projected in the 2009 report prior to the passage of the Patient Protection and Affordable Care Act (ACA, P.L. 111-148), as amended, but earlier than the 2029 date estimated in the 2010 report immediately after the ACA's enactment. Because of the way it is financed, the SMI fund cannot face insolvency; however, the trustees project that SMI expenditures will continue to grow rapidly, and thus place increasing demands on Medicare beneficiaries and all taxpayers. The trustees estimate that total Medicare costs will increase from 3.7% of GDP in 2011 to 6.7% in 2086. Although the Medicare trustees report that the financial outlook for the Medicare program appears to have improved as a result of ACA, they caution that the projections in the report are more uncertain than normal, due to the potential for future expenditure reductions not to materialize. In addition, the report projections assume that reductions in physician payment rates scheduled under current law will occur, although these reductions have usually been overridden by Congress. As such, as it has done each year subsequent to the enactment of ACA, the Centers for Medicare & Medicaid Services (CMS) Office of the Actuary issued a supplemental analysis that provides projections based on an “illustrative alternative” to current law.~
Download or read book Medicare Financing written by Congressional Research Service and published by CreateSpace. This book was released on 2014-10-22 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Medicare is the nation's health insurance program for individuals aged 65 and over and certain disabled persons. Medicare consists of four distinct parts: Part A, or Hospital Insurance (HI); Part B, or Supplementary Medical Insurance (SMI); Part C, or Medicare Advantage (MA); and Part D, the outpatient prescription drug benefit. The Part A program is financed primarily through payroll taxes levied on current workers and their employers; these are credited to the HI trust fund. The Part B program is financed through a combination of monthly premiums paid by current enrollees and general revenues. Income from these sources is credited to the SMI trust fund. Beneficiaries can choose to receive all their Medicare services, except hospice, through managed care plans under the MA program; payment is made in appropriate parts from the HI and SMI trust funds. A separate account in the SMI trust fund accounts for the Part D drug benefit; Part D is financed through general revenues, beneficiary premiums, and state contributions. The HI and SMI trust funds are overseen by a Board of Trustees that provides annual reports to Congress. The 2014 report of the Medicare Board of Trustees estimates that the HI trust fund will become insolvent in 2030, four years later than it had predicted in the 2013 report. Because of the way that it is financed, the SMI fund cannot face insolvency; however, the Trustees project that SMI expenditures will continue to grow rapidly, and thus place increasing demands on Medicare beneficiaries and all taxpayers. Additionally, unlike in prior years, the projections in the 2014 report assume that reductions in physician payment rates scheduled under current law will not occur, because these reductions have usually been overridden by Congress. The Trustees estimate that total Medicare costs will increase from 3.5% of GDP in 2013 to 6.9% in 2088. Although the Medicare Trustees report that the financial outlook for the Medicare program appears to have improved as a result of changes made by the Patient Protection and Affordable Care Act as amended (ACA, P.L. 111-148), they caution that the projections in the report are somewhat uncertain, due to the potential for future expenditure reductions not to materialize. As it has done each year subsequent to the enactment of ACA, the Centers for Medicare & Medicaid Services (CMS) Office of the Actuary issued a supplemental analysis that provides illustrative alternative projections based on the assumption that certain ACA provisions affecting Medicare provider payments will be phased out.
Download or read book Annual Report on Medicare written by United States. Health Care Financing Administration and published by . This book was released on 1980 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Medicare Primer written by Patricia A. Davis and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides a general overview of the Medicare program including descriptions of the program's history, eligibility criteria, covered services, provider payment systems, and program administration and financing.
Download or read book Medicare Solvency written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 2001 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Transparency in Government Operations written by Mr.J. D. Craig and published by International Monetary Fund. This book was released on 1998-02-03 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.
Download or read book The Healthcare Imperative written by Institute of Medicine and published by National Academies Press. This book was released on 2011-01-17 with total page 852 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States has the highest per capita spending on health care of any industrialized nation but continually lags behind other nations in health care outcomes including life expectancy and infant mortality. National health expenditures are projected to exceed $2.5 trillion in 2009. Given healthcare's direct impact on the economy, there is a critical need to control health care spending. According to The Health Imperative: Lowering Costs and Improving Outcomes, the costs of health care have strained the federal budget, and negatively affected state governments, the private sector and individuals. Healthcare expenditures have restricted the ability of state and local governments to fund other priorities and have contributed to slowing growth in wages and jobs in the private sector. Moreover, the number of uninsured has risen from 45.7 million in 2007 to 46.3 million in 2008. The Health Imperative: Lowering Costs and Improving Outcomes identifies a number of factors driving expenditure growth including scientific uncertainty, perverse economic and practice incentives, system fragmentation, lack of patient involvement, and under-investment in population health. Experts discussed key levers for catalyzing transformation of the delivery system. A few included streamlined health insurance regulation, administrative simplification and clarification and quality and consistency in treatment. The book is an excellent guide for policymakers at all levels of government, as well as private sector healthcare workers.
Download or read book Medicare s Financial Crisis written by United States. Congress. Joint Economic Committee and published by . This book was released on 2003 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Download or read book Unretirement written by Chris Farrell and published by Bloomsbury Publishing USA. This book was released on 2014-09-02 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The budget battles of recent years have amplified the warnings of demographic doomsayers who predicted that a wave of baby boomers would bleed America dry, bankrupting Social Security and Medicare as they faded into an impoverished old age. On the contrary, argues award-winning journalist Chris Farrell, we are instead on the verge of a broad, positive transformation of our economy and society. The old idea of "retirement"--a word that means withdrawal, describing a time when people gave up productive employment and shrank their activities--was a short-lived historical anomaly. Humans have always found meaning and motivation in work and community, Farrell notes, and the boomer generation, poised to live longer in better health than any before, is already discovering unretirement--extending their working lives with new careers, entrepreneurial ventures, and volunteer service. Their experience, wisdom--and importantly, their continued earnings--will enrich the American workplace, treasury, and our whole society in the decades to come. Unretirement not only explains this seismic change, now in its early stages, it provides key insights and practical advice for boomers about to navigate this exciting, but unsettled, new frontier, drawing on Chris Farrell's decades of covering personal finance and economics for Bloomsberg Businessweek and Marketplace Money. This will be an indispensable guide to the landscape of unretirement from one of America's most trusted experts.
Download or read book Medicare Financing Crisis and Recommendations for Medicare Financial Reforms written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Health and published by . This book was released on 1985 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Report of the National Commission on Social Security Reform written by United States. National Commission on Social Security Reform and published by . This book was released on 1983 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook for Chapter 7 Trustees written by and published by . This book was released on 2001 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
