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Medicare trustees warn of possible hospital fund bankruptcy
The board of trustees says Congress must cut Medicare hospital spending or raise income to avert a potential bankruptcy by 1996 under mid-range projections. If conditions stay likely, a 22 percent spending cut or 28 percent income increase could restore balance, with reforms already slowing growth but urgent action still required. The report notes Part B remains financially sound but costly, while Social Security funds are projected to remain solvent for many years. The six trustees include Bowen, Baker, Brock, Martha McSteen, Mary Falvey Fuller, and Suzanne Denbo Jaffe.
MENTIONED IN THIS ARTICLE
Washington
Congress
Board of Trustees
Sune
Health and Human Services
Otis R. Bowen
Bowen
Medicare
Medicare Hospital Insurance Trust Fund
Medicare Hospital Insurance
Social Security Administration
Medicare Supplementary Medical Insurance Trust Fund
Social Security
Treasury
James A. Baker
Labor
William Brock
Martha MecSteen
Mary Falvey Fuller
Suzanne Denbo Jaffe