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Tag Archive | "Trustees Report"

Medicare Trustees Release 2011 Report

On May 13, the Medicare Board of Trustees released its 2011 Report on the financial status of Medicare. The Board noted that the financial picture may be understated in the report because certain assumptions are not likely to be carried out. For example, the calculation of Medicare’s solvency is based on the assumption that Congress will not intercede to prevent the Medicare physician payment cuts scheduled to go into effect on January 1, 2012.

The Medicare Trustees issued their sixth “funding warning,” meaning that for Medicare is projected to draw more than 45 percent of its funding from general government revenue. Under the Medicare Modernization Act (MMA), as a result of the warning, the President is required to submit to Congress a legislative proposal to reduce Medicare. However, the White House has not historically issued such a proposal.

The report indicated that the reforms included in the Affordable Care Act (ACA) extend Medicare’s solvency by eight years. The Trustees project that the Medicare Trust Fund will be solvent until 2024.

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