Medicare - Brief Article

Medicare will now have until 2025 before cash runs short to pay benefits. A report issued by trustees of the program said the program would start running short on cash by 2023. The two-year difference is explained by a computer error recently discovered by trustees of Medicare. Richard Foster, chief actuary at the Department of Health and Human Services, said, 'This error resulted in a substantial underestimate of future interest income and caused the estimated year of exhaustion for Medicare Hospital Insurance to be2023..

Actual earning on (hospital insurance) assets were not affected, only our estimates of future interest."

COPYRIGHT 2000 Cheever Publishing, Inc.
COPYRIGHT 2001 Gale Group

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