Medicare

WHERE  WE  ARE;  WHERE  WE  ARE  HEADED;  
WHAT  WE  CAN  DO

    
   

GENESIS  OF  THE  GROUP
The Medicare Outreach Work Group formed in 2005 when a group of concerned actuaries came together to enhance the actuarial profession’s efforts (and hence fulfill its responsibilities) to educate the public about Medicare.

THE  MEDICARE  PAPER
The initial paper produced by the group can be read at: "The Facts About Medicare ". Here is a brief summary of key information developed in this paper.

  1. The Medicare System has been very important in enhancing the quality of life for senior citizens.
  2. Medicare faces serious future financial problems.  The Medicare system… as it currently is designed, managed and financed… is unsustainable without substantial fundamental changes.
  3. The longer we wait to address Medicare’s financial situation, the more painful the remedy will be.
  4. Without changes to improve Medicare’s financing, other areas of the Federal budget (such as education, defense or public infrastructure) could experience future funding shortfalls… or the quality of and access to healthcare could decline.

OBJECTIVE
To provide the public with unbiased information about Medicare.

APPROACH
To review available financial information on and analyses of Medicare experience (both historical and projected future experience) in order to clarify where we are, where we are heading and what we can do to improve the Medicare system.  Important sources of information includes the annual Medicare Trustee Reports, federal budget projections and input from other respected professional organizations and many individual actuaries and health professionals.