Has the Drug Benefit Added to Medicares Financing Woes?
Will the addition of the new drug benefit, which began in January, have a significant effect on the long-term financial condition of Medicare, or is there reason for optimism? Will other initiatives, including pay-for-performance and improved methods of managing care for the sickest patients, ease the cost pressures facing Medicare? Is it possible to assess the impact of these program changes only a few months after their implementation? At a May 2 AEI event, Richard Foster, Medicare’s chief actuary, presented the major findings of the Medicare trustees’ report, released in early May. These and other questions were discussed by a panel of experts, including Medicare’s two public trustees and the former director of the Congressional Budget Office. Following their discussion, Mark McClellan, the administrator of the Centers for Medicare and Medicaid Services, explained the latest developments in the Medicare program. Richard Foster Centers for Medicare and Medicaid Services The Medicare
