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CBO estimated in September 2011 that "most" Medicare spending would be reduced by approximately 2% per year versus planned levels, for total savings of $123 billion over the 2013-2022 period. [1] CBO projects that Medicare spending will rise from $551 billion in 2012 to over $1 trillion in 2023, despite the sequester.
CMS reported in 2013 that, while costs per capita continued to rise, the rate of increase in annual healthcare costs had fallen since 2002. Per capita cost increases averaged 5.4% annually between 2000 and 2013. Costs relative to GDP, which had been rising, had stagnated since 2009. [34] Several studies attempted to explain the reductions.
The maximum penalty will increase after this year, to 2 percent of regular payments starting in October 2013 and then to 3 percent the following year. As an example, if a hospital received the maximum penalty of 1 percent and it submitted a claim for $20,000 for a stay, Medicare would reimburse it $19,800.
However, costs per capita continue to rise. Per capita cost increases have averaged 5.4% annually since 2000. Costs relative to GDP have risen from 13.8% in 2000 to 17.9% by 2009, but remained at that level in 2010 and 2011. [22] Several studies have attempted to explain the reduction in the rate of annual increase. Reasons include, among others:
Premiums will increase next year for some retired state employees and their dependents under the State Health Plan’s Medicare Advantage plans following a vote by the plan’s board of trustees ...
With the increase, Washington continues to have the highest minimum wage of all states at $16.66, up 38 cents. Delaware will see the highest increase, from $13.25 to $15. Meanwhile, Minnesota has ...