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It was the primary payer for an estimated 15.3 million inpatient stays in 2011, representing 47.2 percent ($182.7 billion) of total aggregate inpatient hospital costs in the United States. [3] On average, Medicare covers about half (48 percent) of health care costs for enrollees. Medicare enrollees must cover the rest of the cost.
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:
But because Medicare costs are projected to rise from 2013 through 2021, the dollar amount saved by this 2 percent cut will increase, from $11.0 billion in 2013 to $11.4 billion in 2014 and ultimately to $17.8 billion in 2021."
Medicare is a huge program that is used by millions of Americans each year and is a trillion (yes, trillion) dollar government program. According to the Centers for Medicare and Medicaid, national ...
These costs appear on the Medicare statements provided to Medicare card holders. The program pays out over $430 billion per year via over 1 billion claims, making enforcement challenging. [ 104 ] Its enforcement budget is "extremely limited" according to one Medicare official.
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 ...