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Medicare reform: modernization requires comprehensive program view: statement of William J. Scanlon, Director, Health Care Issues, before the ... and Commerce, House of Representatives
William Scanlon; United States
Paperback. Books LLC, Reference Series 2011-11-21.
ISBN 9781234864705
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Publisher description
OCLC Number: 52870411 Excerpt: ... remain solvent until 2029, HI outlays are projected to exceed HI revenues beginning in 2016. As the baby boom generation retires and the Medicare-eligible population swells, the imbalance between outlays and revenues will increase dramatically. Thus, in 15 years the HI trust fund will begin to experience a growing annual cash deficit. At that point, the HI program must redeem Treasury securities acquired during years of cash surplus. The government will then need to increase taxes, increase borrowing ( or retire less debt ), impose spending cuts, or implement some combination of these actions. When part A expenditures outstrip payroll tax revenues, it may be tempting to reallocate some expenditures from part A to part B. This would extend the solvency of the HI trust fund, but would do little to improve Medicare's overall financial health. For example, BBA reallocated a portion of home health spending from part A to part B. Although that action - phased in over time - reduces HI expenditures and extends that trust fund's solvency, it also increases SMI expenditures. Consequently, the home health reallocation increases the proportion of Medicare funded by general revenues and beneficiary premiums. Clearly, it is total program spending - both part A and part B - which Comprehensive Measures determines whether Medicare is sustainable over the long haul. Whether Could Better Indicate the program remains in its current configuration, or the relationship Program Sustainability between parts A and B are restructured, a more comprehensive measure of Medicare's financial health could help Congress anticipate future fiscal imbalances. A variety of such measures exist now. For example, the Medicare Trustees report total Medicare spending as a share of gross domestic product ( GDP ). This measure clearly shows that total Medicare expenditures will likely consume an increasingly larger share of the national economy. Currently, combined H
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Medicare reform: modernization requires comprehensive program view: statement of William J. Scanlon, Director, Health Care Issues, before the ... and Commerce, House of Representatives
Book reviews » Medicare reform: modernization requires comprehensive program view: statement of William J. Scanlon, Director, Health Care Issues, before the ... and Commerce, House of Representatives
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