POSTED: July 15th, 2017
POSTED IN: Legislative Updates,
CMS released the 2017 Medicare Trustee’s report that provides financial data regarding the financial operations and solvency of the Hospital Insurance Trust Fund (HI) and Supplementary Medical Insurance Trust Fund (SMI). HI, otherwise known as Medicare Part A, covers hospital inpatient, home health (following hospital stays), SNF and hospice. SMI consists of Medicare Part B and Part D. According to the report, HI will run out of money in 2029, which is one year later than what was predicted last year, as national health spending continues to grow slower than expected. Since the spending rates are still lower than Medicare’s target level, the ACA-established Independent Payment Advisory Board (IPAB) is not anticipated to be activated until 2021. The 2016 trustees’ report predicted it would be triggered this year.