A Doctors' Note On Medicare (Page 7 of 8) in pdf

10 Facts Policymakers Should Consider In Reforming Medicare

The Actuary Of The Medicare Program Says That Congressional Action Will Be Required to Ensure Seniors

Have Continued Access to Care.

In May 2012, the Medicare Actuary said that “it is reasonable to expect that Congress

would find it necessary to legislatively override or otherwise modify the reductions in the future to ensure that Medicare

beneficiaries continue to have access to health care services.”

Solving Medicare’s Long-Range Financial Imbalance By Raising Taxes Is Untenable.

The 2012 Medicare Actuaries

report explains that making immediate changes to bring Medicare into solvency would “require an immediate 47-percent increase

in the standard tax rate” or an “immediate 26-percent reduction in [Medicare program] expenditures.”

The Medicare Trustees’ Alternative Scenario, Shows Unfunded Liabilities Over A 75-Year Period Of $36.9 Trillion.

That

breaks down as follows: Part A: $8.3 trillion, Part B: $21 trillion, and Part D: $7.5 trillion.

Taxpayers Subsidize Millionaires on Medicare.

According to the independent Chief Actuary of the Social Security Administration, there

are about 60,000 seniors enrolled in Medicare Part B who have annual incomes of more than $1,000,000 or more.

During His Entire Presidency, President Obama Has Not Offered a Plan to Save Medicare.

For the sixth consecutive year (2007

through 2012), the Medicare Trustees were required by the Social Security Act to issue a Medicare funding warning in their annual report.

While a funding warning has been issued or in place every year the President has been in office, the administration continues to defy its

obligation under the law to submit a legislative proposal to Congress in response to warnings issued by the Trustees. The President points to

the new health care law as his response to the Medicare trigger, but the Trustees have issued funding warnings in all three reports since the

health care law was enacted (2010 through 2012). In the summary of the report the Trustees clearly explain: “The warning directs the President

to submit proposed legislation within 15 days of the next budget submission to respond to the warning and requires Congress to consider the

proposal on an expedited basis. To date, elected officials have not enacted legislation responding to these funding warnings which have been

included in the five previous reports.”

Shatto, John D. and Clemens, M. Kent,

Memo for Centers for Medicare and Medicaid Services, May 18, 2012, Page 1,

The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds, “Annual Report of the Boards of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds,” April 23, 2012, , page 32

Codespote, Suzanne, Memo for Centers for Medicare and Medicaid Services, April 23, 2012

Coburn, Tom, M.D., “Subsidies of the Rich and Famous,” November 2011, Page 8,