Congressman Larry Bucshon on 2012 Medicare Trustees Report
(Washington, D.C.) – Congressman Larry Bucshon (IN-08) released the following comment in regards to the 2012 Medicare Trustees report.
Congressman Bucshon (IN-08) states:
“The Medicare Trustees report makes it clear that we need action now to preserve and protect this vital program for current beneficiaries and future retirees. The aging population and rising costs in healthcare are contributing to the approaching date of insolvency. Furthermore, the attempt to mask these issues by cutting $575 billion through Obamacare is more proof that this Administration has no plan to keep our promises to our nation’s seniors. As a physician that mostly treated the Medicare population, it is unimaginable to continue ignoring this issue. Those that choose to do so should get their heads out of the sand.”
For the second consecutive year, the Medicare Trustees state that Medicare Part A (Hospital Insurance) will become insolvent in 2024. In 2011, Part A ran a deficit of $27.7 billion. The full report can be read here.
Also Monday, the nonpartisan Government Accountability Office released a report regarding the Medicare Advantage Quality Bonus Payment Demonstration titled, “Quality Bonus Payment Demonstration Undermined by High Estimated Costs and Design Shortcomings.” The plan, which costs $8.3 billion and was designed by the Department of Health and Human Services as a temporary patch from the cuts outlined in Obamacare, was recommended to be canceled.