Medicare Trustees Report Released [05-31-13]

Filed under: Industry Updates — Editor @ 2:56 pm

Treasury-sealOn May 31, the U.S. Treasury Department released the annual Medicare and Social Security Trustees report. The report projected that Medicare’s hospital trust fund will be solvent until 2026, which is two years longer than the 2012 projection.  The improvement reflects the lower-than-expected growth of Medicare spending in 2012 and an expectation that the federal health care law will reduce growth in Medicare advantage spending more than originally anticipated.

The trustees for Medicare report annually to Congress on the financial operations and actuarial status of the program. In 2012, the trustees reported that Medicare’s hospital insurance trust fund was running out of money and unable to pay all the claims for promised benefits as early as 2024.  The report assumes Congress will allow a 30% cut to physician payments to go into effect next year – something that has never happened because Congress regularly passes a “doc fix” bill. The full report will be made available on the CMS website.

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