Medicare Boards of Trustees Releases 2023 Annual Report to Congress

On March 31st, the Board of Trustees for Medicare released their most recent report to Congress on the financial operations and actuarial status of Medicare. The Trustees Report describes past and estimated future financial operations of the Hospital Insurance (HI) (Part A) and Supplementary Medical Insurance (SMI) (Part B and prescription drug coverage) trust funds. According to the report, the Medicare HI trust fund will have funds to pay for Part A benefits until 2031, three years longer than what was reported last year due to higher projected HI income and lower expenditures. However, the Trustees project deficits in the HI trust fund starting in 2025.