July 10, 2014
BRING MORE CONSUMER PRESSURE TO BEAR AND DRIVE IT LOWER:
The amazing, mysterious decline in Medicare's price tag (Sarah Kliff, July 9, 2014, Vox)
Posted by Orrin Judd at July 10, 2014 7:00 PMWhat this chart shows is how much the Congressional Budget Office expects we'll need to pay for each and every Medicare beneficiary. And over the past four years, the forecasting agency has consistently downgraded the price of covering one senior's health care costs.Saving $1,000 per patient adds up quickly in a program that covers about 50 million people. More precisely, it adds up to about $50 billion in savings this year. The reduction in expected costs grows to $2,369 in 2019. With an expected 60 million seniors enrolled in Medicare that year, it would work out to more than $120 billion shaved off the total cost of the program."The numbers are impressive, and the consecutive year-to-year reductions in projected Medicare spending are unprecedented," Kaiser Family Foundation's Tricia Neuman and Juliette Cubanski, who drew up the above chart, write.