HOME >> MEDICINE >> NEWS
Medicare facing future bankruptcy: 'IEEE-USA Today's Engineer' cites $30 trillion unfunded liability

Because of rising healthcare costs, advancing technology, and an aging U.S. population, predicting future Medicare spending is difficult. In 2005, the unfunded liability for Medicare was projected to be close to $30 trillion, according to the current issue of IEEE-USA Today's Engineer Online.

"How well we deal with the funding issue will affect the extent to which we push costs forward to future generations," Today's Engineer author George McClure writes in "Fixing Medicare: An Intergenerational Dilemma."

Medicare is a federal health insurance program for people 65 and older, disabled people under 65 and those with end-stage renal disease. Three-quarters of Medicare costs are covered by the program; the remainder by recipients.

With the expected growth in those eligible for benefits and the uncertainty of future healthcare costs, Medicare Part A, which covers hospital services, is expected to run out of money by 2018. The prescription drug program (Medicare Part D) is also unfunded. To prevent the projected shortfall, some combination of cutting benefits, raising premiums or increasing the payroll tax will have to implemented, according to Today's Engineer.

"The earlier that actions are taken to avert the looming crisis, the easier those actions will be," McClure writes. "But the politics are daunting."


'"/>

Contact: Chris McManes
c.mcmanes@ieee.org
202-530-8356
IEEE-USA
29-Dec-2006


Page: 1

Related medicine news :

1. Support for Childrens Health and Medicare Protection Act given to House leaders by ACP
2. ACP challenges Congress to make fundamental changes in Medicare payment policies
3. Marked departure in Medicare practice of paying physicians in Geriatric Care Improvement Act
4. Medicare payment cuts will accelerate primary care collapse
5. Study finds major variation in Medicare Rx drug costs
6. UCSF pharmacy school receives major grant from Amgen Foundation for Medicare Part D outreach
7. Extra payments to Medicare Advantage plans totaled $5.2 billion over fee-for-service costs in 2005
8. Racial disparities high in Medicare plans
9. Ethnic disparities in Medicare claims?
10. ACP says Congress must take action to reform dysfunctional Medicare payment system
11. AAFP, ACP and AOA meet with Congress on Medicare reimbursements to physicians

Post Your Comments:
*Name:
*Comment:
*Email:


(Date:10/13/2017)... NJ (PRWEB) , ... October 13, 2017 , ... Global ... at scenic Alexandria Park in Milford, NJ. This free event, sponsored by Global ... physical activity. The fun run is geared towards children of all ages; it ...
(Date:10/13/2017)... , ... October 13, 2017 , ... “America On The ... identity. “America On The Brink” is the creation of published author, William Nowers. ... great-grandchildren. As a WWII veteran, he spent thirty years in the Navy. ...
(Date:10/12/2017)... ... , ... IsoComforter, Inc. ( https://isocomforter.com ), one of the Nation’s ... design of the shoulder pad. The shoulder pad provides optimal support and full ... while using cold therapy. By utilizing ice and water that is circulated from an ...
(Date:10/12/2017)... PA (PRWEB) , ... October 12, 2017 , ... ... is the recipient of a 2017 Folio Magazine Eddie Digital Award for ‘Best B-to-B ... York City on October 11, 2017. , The annual award competition recognizes editorial and ...
(Date:10/12/2017)... BALTIMORE (PRWEB) , ... October 12, 2017 , ... ... average of $3,296 in property taxes a year. In some states—like New York, ... higher. , By contrast, many overseas retirement havens have extremely low property-tax rates, ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... -- The Rebound mobile app is poised to become a ... of prescription drug addiction. The app empowers users to develop ... down their dosage in a safe, controlled manner while maximizing ... first 100,000 people to sign up will enjoy 3 months ... ...
(Date:9/27/2017)... their devotion to personalized service, SMP Pharmacy Solutions announces their ... South Florida Business Journal,s 50 Fastest-Growing Companies, and listed for ... specialty pharmacy has found its niche.  To that end, the ... by SFBJ as the 2017 Power Leader in Health Care. ... award in October, Bardisa said of the three achievements, "It,s ...
(Date:9/25/2017)... Sept. 25, 2017  EpiVax, Inc., a leader ... and immune-engineering today announced the launch of EpiVax ... of personalized therapeutic cancer vaccines. EpiVax has provided ... access to enabling technologies to the new precision ... lead EpiVax Oncology as Chief Executive Officer. Gad ...
Breaking Medicine Technology:
Cached News: