What do we spend the payroll taxes and premiums that we collect for Medicare part A.
Here’s the list for 2009:
| Expense Type | Amount Spent (Billions) |
|---|---|
| Hospital | 133.9 |
| Skilled Nursing Facility | 26.3 |
| Home Health Care | 7.3 |
| Physicians | 0 |
| Private Health Insurance Medicare Part C Medicare Advantage | 59.4 |
| Other | 12.5 |
The total amount spent in Medicare Part A in 2009 was $242.5. Given that we had revenues of $225.4, we had a shortfall that year of $17.1 billion — which was covered by assets.
The United States has the highest health care costs in the world, despite the fact that we die younger and are in poorer health than our European counterparts.
If we could cut our hospital expenses significantly, we could increase the solvency of Medicare. And that is the purpose of the IPAB in Obamacare.
About Georgeana Mimms
