Last edited by Nasida
Sunday, July 19, 2020 | History

2 edition of Prefunding medicare found in the catalog.

Prefunding medicare

Feldstein, Martin S.

Prefunding medicare

by Feldstein, Martin S.

  • 117 Want to read
  • 26 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

    Subjects:
  • Medicare -- Costs.,
  • Medical savings accounts -- United States.

  • Edition Notes

    StatementMartin Feldstein.
    SeriesNBER working paper series -- working paper 6917, Working paper series (National Bureau of Economic Research) -- working paper no. 6917.
    ContributionsNational Bureau of Economic Research.
    Classifications
    LC ClassificationsHB1 .W654 no. 6917
    The Physical Object
    Pagination17 p. ;
    Number of Pages17
    ID Numbers
    Open LibraryOL22399786M

    The expansion of Medicare benefits began almost immediately after the passage of the legislation. In ,just one year after Medicare had passed, Congress increased the number of days of in-patient hospital care covered by the program. In , payment for the services of interns and residents in podiatry training was added to the benefit package. Prefunding OPEB costs a significant amount of money now and may take years to fully achieve. Those currently in power likely won’t be around to enjoy the benefits of a prefunded OPEB plan, while they would certainly feel the pain of diverting money away from infrastructure, education, and other essential services.

      Sauber said that required enrollment into Medicare at age 65 is standard in the private sector, and reduces future health care costs to the point of nearly eliminating the cost of pre-funding. “Because when you have both Medicare pays first, your FEHBP plan pays second,” Klement said. “Most people have both.   Finally, companies must realize that, with increased strain on the Federal budget, Congress or the IRS may deny a tax-advantaged status to a particular prefunding strategy or Congress may change Medicare to shift more of the burden to employers. The authors are partners in Coopers & Lybrand's Actuarial, Benefits, and Compensation Consulting Group.

      Many believe that the prefunding requirement for retiree health benefits accounts for all of the Postal Service’s financial problems. Although the prefunding requirement does account for a large share of net losses, retiree health benefits caused $22, million in expenses out of a total net loss of $ billion in fiscal year   The Medicare Trustees have issued a “funding warning” for the program in their last two annual reports. According to the Medicare Trustees statement, “Underlying health care costs per enrollee are projected to rise faster than the wages per worker on which payroll taxes and Social Security benefits are based.


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Prefunding medicare by Feldstein, Martin S. Download PDF EPUB FB2

In “Prefunding Medicare,” American Economic Review (May ): –, Martin Feldstein, professor of economics at Harvard and president of the National Bureau of Economic Research, writes Cited by: 1. Prefunding medicare. Cambridge, MA: National Bureau of Economic Research, © (OCoLC) Material Type: Internet resource: Document Type: Book, Internet Resource: All Authors / Contributors: Martin S Feldstein; National Bureau of Economic Research.

Get this from a library. Prefunding medicare. [Martin S Feldstein; National Bureau of Economic Research.] -- Abstract: The Medicare program of health care for the aged now costs more than $5, per enrollee, a national cost of more than $ billion a year.

The official projections that these costs will. Prefunding Medicare Martin Feldstein. NBER Working Paper No. Issued in January NBER Program(s):Public Economics Program, Health Care Program, Health Economics Program The Medicare program of health care for the aged now costs more than $5, per enrollee, a national cost of more than $ billion a year.

Downloadable. The Medicare program of health care for the aged now costs more than $5, per enrollee, a national cost of more than $ billion a year. The official projections that these costs will rise rapidly from % of GDP now to % of GDP in and 7% of GDP in assume that structural changes in health care will prevent the even more rapid growth of spending that would occur.

This paper presents a detailed analysis of the economics of prefunding benefits for the aged, focusing on Social Security but indicating some of the analogous magnitudes for prefunding Medicare Benefits. current paper emphasizes the advantage of prefunding and does not deal with other aspects of privatization such as the matching of invest- ments to individual preferences and avoiding the problems of politiciza- tion that could come with greater government control.

The Long-Term Outlook for Social Security and Medicare. There is a strong case for prefunding Medicare in anticipation of the retirement of the numerous baby boomers. But the creation of individual accounts would involve a new departure for Medicare.

The prefunding mandate makes the unfair assumption that all current USPS employees will work for the Postal Service for the rest of their working lives.

It also assumes that all current workers will qualify for and request that USPS pay the full cost of retirement health insurance.

Medicare integration for future postal retirees; Medicare. Some Customers may pay you in advance of you raising an Invoice for the product or service provided. These steps detail one way you could record the receipt of money from a Customer in advance of raising the Bill (Payments in Advance / Payments on Account).

Please consult your Accounting profession. Search this site: Humanities. Architecture and Environmental Design; Art History. His latest book, Funding Social Security: A There is a strong case for prefunding Medicare in anticipation of the retirement of the numerous baby boomers.

But the creation of individual. Prefunding Medicare without individual accounts Article Literature Review in Health Affairs 19(5) September with 6 Reads How we measure 'reads'. Opponents of Medicare privatization point out that prefunding does not require private accounts.

Seidman [] has argued that prefunding could just as well be done collectively. The mechanism would be a relatively small rise now in the Medi-care tax rate, which would add to Medicare surpluses and lead to the same kind of. Download PDF. Executive Summary. The Postal Service promises its workers they will receive health benefits in retirement.

Retiree health benefits are different from pensions, but both are types of deferred compensation, are expensive, and are. This paper presents a detailed analysis of the economics of prefunding benefits for the aged, focusing on social security but indicating some of the analogous magnitudes for prefunding Medicare benefits.

Prefunding — Prefunding the liability with tax-advantaged accounts such as IRC Sec. (c)(9) Diversify your book of business; Earn competitive commissions and bonuses; Medicare eligibles in both an " series" Group Medicare MA-Only plan as well as an " series" standalone Group Medicare. This would imp postal retirees while shifting $8 billion in costs to Medicare.

NARFE does not believe that postal reform should be achieved by placing the full burden of balancing the Postal Service’s books on these retirees. Congress could certainly pursue other avenues to eliminate the overly burdensome prefunding requirement.

book, we follow Medicare through its relatively short life, pointing out the reasons for the briefness of its healthy period and proposing a per-manent solution to the crisis.

We deal with all three aspects of the Medicare program that have worked together to get us to the current situation: a payment scheme that ensures the users of the system. The retirees’ monthly payments will range from $20 to $, depending on coverage.

For example, a single, Medicare-eligible retiree who enrolls in an HMO plan will pay a maximum premium of $20 a month. An employee who isn’t yet Medicare eligible and has dependents will pay up to $ a month for the HMO program.

Just like when we were forced to prepay healthcare to make the books look good Forcing retirees to get medicare might save usps money but will bankrupt the medicare fund real damn fast. But what is the big todo about retiree healthcare.

usps's portion is already there in the prefunding .To relieve the government budget tension, some economists (see, e.g., Feldstein and Samwick, ; and Feldstein, ) have advocated that the traditional pay-as-you-go Medicare system should be supplemented or replaced by some sort of Medicare prefunding system (such as .For the FY through FY wage index only, a provider may include a prefunding installment as a component of pension cost regardless of whether or not the plan(s) which gave rise to the prefunding balance are still in existence.

The annual prefunding installment shall equal 1/10th of the prefunding balance. A prefunding installment that.