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As of January 1, 2016, Medicare's unfunded obligation over the 75-year time frame is $3.8 trillion for the Part A Trust Fund and $28.6 trillion for Part B. Over an infinite timeframe, the combined unfunded liability for both programs combined is over $50 trillion, with the difference primarily in the Part B estimate. [103]
(The Center Square) – Financial experts are sounding the alarm over the federal government's practices, warning that the true scope of U.S. liabilities far exceeds what is publicly reported.
The board later voted to call for amortizing the unfunded liability over 20 years. The city challenged that through a federal lawsuit, seeking a 30-year schedule. Under a 20-year repayment plan ...
Medicare. News. Shopping. Main Menu ... The largest contributor to state debt at the end of fiscal year 2023 was unfunded retirement liabilities, Truth in Accounting reports. ... "What goes a ...
In 2010, the total unfunded liability for state OPEBs was assessed to be $590 billion. [8] In 2013 alone, OPEBs cost states $48 billion, which represented 4% of state-generated revenue. [9] Unfunded OPEB liabilities account for up to 28% of total current unfunded pension liabilities. [10]
According to the 2018 annual reports from the trustees for the U.S. Social Security and Medicare trust funds, Medicare is facing a $37 trillion unfunded liability over the next 75 years, and Social Security is facing a $13 trillion unfunded liability over the same time frame. [43]
(The Center Square) – Illinois unfunded pension liability is growing. The Illinois Commission on Government Forecasting and Accountability reports the latest unfunded liability is $143.7 billion.
Former Republican Secretary of Commerce Peter George Peterson indicated that some form of rationing is inevitable and desirable considering the state of US finances and the trillions of dollars of unfunded Medicare liabilities. He estimated that 25 to 33% of healthcare services are provided to those in the last months or year of life and ...