The projections in the latest Medicare and Social Security Board of Trustees Report were further proof of the need to reform these important entitlement programs. But for some seeing is believing. Luckily, the Peter G.
Today, the Moment of Truth Project has released a new report,"Modernizing the Medicare Benefit: A Closer Look at Reforming Medicare Cost-Sharing Rules," along with a one-page summary of the different approaches to reforming Medicare’s complex and disjointed set of cost-sharing rules.
While reforming entitlement programs continues to be a critical challenge for policymakers, recent developments suggest that bipartisan support for addressing rising Medicare spending may be growing.
In its annual June report to Congress, the Medicare Payment Advisory Commission (MedPAC) explores a number of reforms that could help improve outcomes and reduce spending in Medicare. MedPAC’s recommendations and analysis have been used in the past to help provide policy ideas for much needed payment reforms and reductions, some of which have been used to pay for doc fixes.
While the latest Medicare Trustees report showed slightly improved projections, the long-term challenges of health care cost growth and population aging remain unresolved. Fortunately, some policymakers in Congress remain committed to slowing the growing spending in Medicare and bending the health care cost curve.
The recent slowdown of health care spending growth is one of the more positive developments in the budget over the past few years. Despite the slowdown, Doug Holtz-Eakin, former CBO director and current president of the American Action Forum, writes in The Hill that Medicare is still in need of reform to slow its cost growth.
Earlier this week, we discussed the new Medicare Trustees projections which project that the Hospital Insurance (HI, or Part A) trust fund will be exhausted by 2026. In our analysis, we highlighted the alternative projections that incorporate several policy changes that lawmakers may make to current law in light have the impact they have on providers and beneficiaries.
At 11 AM Eastern time, the Social Security and Medicare trustees will release their respective reports on the finances of the two programs over the next 75 years. The release will be done at a press conference with Treasury Secretary Jacob Lew, Health and Human Services Secretary Kathleen Sebelius, Acting Labor Secretary Seth Harris, and public trustees Charles Blahous and Robert Reischauer. You can watch the webcast of the press conference here.