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Under the Medicare Modernization Act of 2003, the Medicare Trustees are required to estimate the year in which general revenues will exceed 45 percent or more of total Medicare spending. If, in two consecutive years, the trustees project the 45 percent level will be reached within the next seven years, they are required to issue a Medicare funding warning – which they did last April. As a result, the law requires the President to propose changes to reduce general revenues as a share of total Medicare spending, and for Congress to consider the President’s proposal in an expedited fashion. The Administration released its proposal last week.
On Thursday, March 6, the Kaiser Family Foundation will hold a 9:30 a.m. policy workshop to examine the so-called “45 percent trigger” and its implications for this year’s budget debate and Medicare’s long-term fiscal health. During the workshop, “Pulling the Trigger: How the Funding Warning Could Shape Medicare’s Future,” an expert panel will explore questions including: • Why did Congress enact the “45 percent trigger,” and how does it differ from other measures of Medicare’s fiscal health? • What are the implications of the trigger for beneficiaries and providers? • What is the outlook for the Administration’s proposed Medicare savings and changes to keep general revenues below the 45 percent level? Moderated by Kaiser Executive Vice President Diane Rowland, the panel will include Peter R. Orszag, director of the Congressional Budget Office; Julie Goon, special assistant to the president for economic policy at the National Economic Council; Marilyn Moon, vice president and director of the health program at the American Institutes for Research; and John Rother, AARP group executive officer of policy and strategy. WHEN: WHERE: |
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