Industry News

Recently, the Center for Retirement Research (CRR) at Boston College released its issue brief, Medicare Finances: A 2023 Update. The brief summarizes: 1) the current state of Medicare’s finances; 2) the 2023 Medicare Trustees Report projections under current-law assumptions; 3) compares the current-law projections to the Medicare Office of the Actuary’s alternative scenario; and 4) examines potential reasons for high Medicare expenses.

Although the 2023 Medicare Trustees’ Report focused on the impending financial concerns of the program, the brief indicated that there have been modest improvements in 2023. In addition, it finds that the outlook for Medicare is better than projected a decade ago, even under assumptions that policymakers limit some cost controls. However, Medicare continues to face significant challenges operating in the costly U.S. health care system and handling benefit gaps in insurance coverage.

The report is available here.