Annual Statistical Supplement, 2007
Health Care Programs
Medicare
Trust Funds
Year | Receipts | Expenditures | Trust fund assets at end of year |
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---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total | Payroll taxes |
Income from taxation of benefits |
Transfers from Railroad Retirement account |
Reimbursements from general revenues for— |
Premiums from voluntary enrollees |
Interest on investments and other income a,b |
Total | Benefit payments b,c |
Administrative expenses | ||||
Uninsured persons |
Military wage credits |
Amount d | Percentage of benefit payments |
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1966 | 1,943 | 1,858 | . . . | 16 | 26 | 11 | . . . | 32 | 999 | 891 | 108 | 12.1 | 944 |
1967 | 3,559 | 3,152 | . . . | 44 | 301 | 11 | . . . | 51 | 3,430 | 3,353 | 77 | 2.3 | 1,073 |
1968 | 5,287 | 4,116 | . . . | 54 | 1,022 | 22 | . . . | 74 | 4,277 | 4,179 | 99 | 2.4 | 2,083 |
1969 | 5,279 | 4,473 | . . . | 64 | 617 | 11 | . . . | 113 | 4,857 | 4,739 | 118 | 2.5 | 2,505 |
1970 | 5,979 | 4,881 | . . . | 66 | 863 | 11 | . . . | 158 | 5,281 | 5,124 | 157 | 3.1 | 3,202 |
1971 | 5,732 | 4,921 | . . . | 66 | 503 | 48 | . . . | 193 | 5,900 | 5,751 | 150 | 2.6 | 3,034 |
1972 | 6,403 | 5,731 | . . . | 63 | 381 | 48 | . . . | 180 | 6,503 | 6,318 | 185 | 2.9 | 2,935 |
1973 | 10,821 | 9,944 | . . . | 99 | 451 | 48 | 2 | 278 | 7,289 | 7,057 | 232 | 3.3 | 6,467 |
1974 | 12,024 | 10,844 | . . . | 132 | 471 | 48 | 5 | 523 | 9,372 | 9,099 | 272 | 3.0 | 9,119 |
1975 | 12,980 | 11,502 | . . . | 138 | 621 | 48 | 7 | 664 | 11,581 | 11,315 | 266 | 2.4 | 10,517 |
1976 | 13,766 | 12,727 | . . . | 143 | e | 141 | 9 | 746 | 13,679 | 13,340 | 339 | 2.5 | 10,605 |
1977 | 15,856 | 14,114 | . . . | f | 803 e | 143 g | 12 | 784 | 16,019 | 15,737 | 283 | 1.8 | 10,442 |
1978 | 19,213 | 17,324 | . . . | 214 f | 688 | 141 | 13 | 834 | 18,178 | 17,682 | 496 | 2.8 | 11,477 |
1979 | 22,825 | 20,768 | . . . | 191 | 734 | 141 | 16 | 975 | 21,073 | 20,623 | 450 | 2.2 | 13,228 |
1980 | 26,097 | 23,848 | . . . | 244 | 697 | 141 | 18 | 1,149 | 25,577 | 25,064 | 512 | 2.0 | 13,749 |
1981 | 35,725 | 32,959 | . . . | 276 | 659 | 207 | 22 | 1,603 | 30,726 | 30,342 | 384 | 1.3 | 18,748 |
1982 | 37,998 | 34,586 | . . . | 351 | 808 | 207 | 24 | 2,022 | 36,144 | 35,631 | 513 | 1.4 | 8,164 h |
1983 | 44,570 | 37,259 | . . . | 358 | 878 | 3,456 i | 27 | 2,593 | 39,877 | 39,337 | 540 | 1.4 | 12,858 |
1984 | 46,720 | 42,288 | . . . | 351 | 752 | 250 | 33 | 3,046 | 43,887 | 43,257 | 629 | 1.5 | 15,691 |
1985 | 51,397 | 47,576 | . . . | 371 | 766 | -719 j | 41 | 3,362 | 48,414 | 47,580 | 834 | 1.8 | 20,499 h |
1986 | 59,267 | 54,583 | . . . | 364 | 566 | 91 | 43 | 3,619 | 50,422 | 49,758 | 664 | 1.3 | 39,957 h |
1987 | 64,064 | 58,648 | . . . | 368 | 447 | 94 | 38 | 4,469 | 50,289 | 49,496 | 793 | 1.6 | 53,732 |
1988 | 69,239 | 62,449 | . . . | 364 | 475 | 80 | 41 | 5,830 | 53,331 | 52,517 | 815 | 1.6 | 69,640 |
1989 | 76,721 | 68,369 | . . . | 379 | 515 | 86 | 55 | 7,317 | 60,803 | 60,011 | 792 | 1.3 | 85,558 |
1990 | 80,372 | 72,013 | . . . | 367 | 413 | -993 k | 122 | 8,451 | 66,997 | 66,239 | 758 | 1.1 | 98,933 |
1991 | 88,839 | 77,851 | . . . | 352 | 605 | 89 | 432 | 9,510 | 72,570 | 71,549 | 1,021 | 1.4 | 115,202 |
1992 | 93,836 | 81,745 | . . . | 374 | 621 | 86 | 522 | 10,487 | 85,015 | 83,895 | 1,121 | 1.3 | 124,022 |
1993 | 98,187 | 84,133 | . . . | 400 | 367 | 81 | 675 | 12,531 l | 94,391 | 93,487 | 904 | 1.0 | 127,818 |
1994 | 109,570 | 95,280 | 1,639 | 413 | 506 | 80 | 907 | 10,745 | 104,545 | 103,282 | 1,263 | 1.2 | 132,844 |
1995 | 115,027 | 98,421 | 3,913 | 396 | 462 | 61 | 954 | 10,820 | 117,604 | 116,368 | 1,236 | 1.1 | 130,267 |
1996 | 124,603 | 110,585 | 4,069 | 401 | 419 | -2,293 m | 1,199 | 10,222 | 129,929 | 128,632 | 1,297 | 1.0 | 124,942 |
1997 | 130,154 | 114,670 | 3,558 | 419 | 481 | 70 | 1,319 | 9,637 | 139,452 | 137,762 | 1,690 | 1.2 | 115,643 |
1998 | 140,547 | 124,317 | 5,067 | 419 | 34 | 67 | 1,316 | 9,327 | 135,771 | 133,990 n | 1,782 | 1.3 | 120,419 |
1999 | 151,597 | 132,306 | 6,552 | 430 | 652 | 71 | 1,447 | 10,139 | 130,632 | 128,766 n | 1,866 | 1.4 | 141,385 |
2000 | 167,185 | 144,351 | 8,787 | 465 | 470 | 2 | 1,382 | 11,729 | 131,095 | 128,458 n | 2,636 | 2.1 | 177,475 |
2001 | 174,630 | 151,994 | 7,533 | 470 | 453 | -1,175 o | 1,370 | 13,986 | 143,379 | 141,183 n | 2,195 | 1.6 | 208,726 |
2002 | 178,631 | 152,708 | 8,316 | 425 | 442 | 0 | 1,626 | 15,114 | 152,526 | 149,944 n | 2,582 | 1.7 | 234,831 |
2003 | 175,812 | 149,242 | 8,318 | 426 | 393 | 0 | 1,604 | 15,828 | 154,616 | 152,084 n | 2,533 | 1.7 | 256,026 |
2004 | 183,890 | 156,484 | 8,577 | 419 | 365 | 173 | 1,915 | 15,956 | 170,587 | 167,554 | 3,033 | 1.8 | 269,329 |
2005 | 199,374 | 171,384 | 8,765 | 445 | 286 | 0 | 2,416 | 16,078 | 182,933 | 180,013 | 2,920 | 1.6 | 285,770 |
2006 | 211,515 | 181,274 | 10,319 | 471 | 408 | 0 | 2,645 | 16,398 | 191,933 | 188,989 | 2,944 | 1.6 | 305,352 |
SOURCE: 2007 Annual Report of the Boards of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds, Table llI.B4, and analogous tables from earlier annual reports. Because the table published in the 2007 Annual Report displays dollars rounded to the tenths of billions, an analogous unpublished table displaying dollars rounded to the millions was also used. | |||||||||||||
NOTES: Totals do not necessarily equal the sums of rounded components.
. . . = not applicable; HI = Hospital Insurance; SMI = Supplementary Medical Insurance.
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a. Other income includes recoveries of amounts reimbursed from the trust fund that are not obligations of the trust fund, receipts from the fraud and abuse control program (beginning in 1997), and a small amount of miscellaneous income. | |||||||||||||
b. Values after 2005 include additional premiums for Medicare Advantage (MA) plans that are deducted from beneficiaries' Social Security checks. These additional premiums are beneficiary obligations and occur when a beneficiary chooses an MA plan whose monthly plan payment exceeds the benchmark amount. Beneficiaries subject to such premiums may choose to either reimburse the plans directly or have the premiums deducted from their Social Security checks. The premiums deducted from the Social Security checks are transferred to the HI and SMI trust funds and then transferred from the trust funds to the plans. | |||||||||||||
c. Includes costs of Peer Review Organizations from 1983 to 2001 (beginning with the implementation of the Prospective Payment System on October 1, 1983) and costs of Quality Improvement Organizations beginning in 2002. | |||||||||||||
d. Includes costs of experiments and demonstration projects. Beginning in 1997, includes fraud and abuse control expenses, as provided for by Public Law (P.L.) 104-91. | |||||||||||||
e. No transfer was made in 1976 because of the change in transfer dates from December to March. The 1977 transfer was for benefits and administrative expenses during the 15-month period beginning July 1976 and ending September 1977. | |||||||||||||
f. No transfer was made in 1977 because of the change in transfer dates from August to June. The 1978 transfer was for contributions during the 15-month period beginning July 1976 and ending September 1977. | |||||||||||||
g. Includes $2 million in reimbursement from general revenues for costs arising from the granting of deemed wage credits to persons of Japanese ancestry who were interned during World War II. | |||||||||||||
h. For 1982, assets exclude $12,437 million loaned to the OASI trust fund under the interfund borrowing provisions of the law. Repayments of $1,824 million and $10,613 million were made in 1985 and 1986, respectively. | |||||||||||||
i. The lump-sum general revenue transfer, as provided for by section 151 of P.L. 98-21. | |||||||||||||
j. Includes the lump-sum general revenue adjustment of -$805 million, as provided for by section 151 of P.L. 98-21. | |||||||||||||
k. Includes the lump-sum general revenue adjustment of -$1,100 million, as provided for by section 151 of P.L. 98-21. | |||||||||||||
l. Includes $1,805 million transfer from the SMI catastrophic coverage reserve fund, as provided for by P.L. 102-394. | |||||||||||||
m. Includes the lump-sum general revenue adjustment of -$2,366 million, as provided for by section 151 of P.L. 98-21. | |||||||||||||
n. Includes monies transferred to the SMI trust fund for home health agency costs, as provided for by P.L. 105-33. | |||||||||||||
o. Includes the lump-sum general revenue adjustment of -$1,177 million, as provided for by section 151 of P.L. 98-21. | |||||||||||||
CONTACT: Clare McFarland (410) 786-6390. |
Year | Receipts | Expenditures | Trust fund assets at end of year a |
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---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total | Premiums from participants b | Government contributions c |
Transfers from states d | Interest and other income e,f |
Total | Benefit payments f,g,h |
Administrative expenses | ||||||
Subtotal | Part B | Part D b | Amount | Percentage of benefit payments |
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Aged | Disabled | ||||||||||||
1966 | 324 | 322 | 322 | . . . | . . . | 0 | . . . | 2 | 203 | 128 | 75 | 58.6 | 122 |
1967 | 1,597 | 640 | 640 | . . . | . . . | 933 | . . . | 24 | 1,307 | 1,197 | 110 | 9.2 | 412 |
1968 | 1,711 | 832 | 832 | . . . | . . . | 858 | . . . | 21 | 1,702 | 1,518 | 184 | 12.1 | 421 |
1969 | 1,839 | 914 | 914 | . . . | . . . | 907 | . . . | 18 | 2,061 | 1,865 | 196 | 10.5 | 199 |
1970 | 2,201 | 1,096 | 1,096 | . . . | . . . | 1,093 | . . . | 12 | 2,212 | 1,975 | 237 | 12.0 | 188 |
1971 | 2,639 | 1,302 | 1,302 | . . . | . . . | 1,313 | . . . | 24 | 2,377 | 2,117 | 260 | 12.3 | 450 |
1972 | 2,808 | 1,382 | 1,382 | . . . | . . . | 1,389 | . . . | 37 | 2,614 | 2,325 | 289 | 12.4 | 643 |
1973 | 3,312 | 1,550 | 1,491 | 59 | . . . | 1,705 | . . . | 57 | 2,844 | 2,526 | 318 | 12.6 | 1,111 |
1974 | 4,124 | 1,804 | 1,664 | 140 | . . . | 2,225 | . . . | 95 | 3,728 | 3,318 | 410 | 12.4 | 1,506 |
1975 | 4,673 | 1,918 | 1,759 | 158 | . . . | 2,648 | . . . | 107 | 4,735 | 4,273 | 462 | 10.8 | 1,444 |
1976 | 5,977 | 2,060 | 1,878 | 183 | . . . | 3,810 | . . . | 107 | 5,622 | 5,080 | 542 | 10.7 | 1,799 |
1977 | 7,805 | 2,247 | 2,030 | 217 | . . . | 5,386 | . . . | 172 | 6,505 | 6,038 | 467 | 7.7 | 3,099 |
1978 | 9,056 | 2,470 | 2,221 | 248 | . . . | 6,287 | . . . | 299 | 7,755 | 7,252 | 503 | 6.9 | 4,400 |
1979 | 9,768 | 2,719 | 2,451 | 267 | . . . | 6,645 | . . . | 404 | 9,265 | 8,708 | 557 | 6.4 | 4,902 |
1980 | 10,874 | 3,011 | 2,707 | 304 | . . . | 7,455 | . . . | 408 | 11,245 | 10,635 | 610 | 5.7 | 4,530 |
1981 | 15,374 | 3,722 i | 3,356 i | 366 i | . . . | 11,291 i | . . . | 361 | 14,028 | 13,113 | 915 | 7.0 | 5,877 |
1982 | 16,580 | 3,697 i | 3,341 i | 356 i | . . . | 12,284 i | . . . | 599 | 16,227 | 15,455 | 772 | 5.0 | 6,230 |
1983 | 19,824 | 4,236 | 3,845 | 391 | . . . | 14,861 | . . . | 727 | 18,984 | 18,106 | 878 | 4.8 | 7,070 |
1984 | 23,180 | 5,167 | 4,721 | 445 | . . . | 17,054 | . . . | 959 | 20,552 | 19,661 | 891 | 4.5 | 9,698 |
1985 | 25,106 | 5,613 | 5,105 | 508 | . . . | 18,250 | . . . | 1,243 | 23,880 | 22,947 | 933 | 4.1 | 10,924 |
1986 | 24,665 | 5,722 | 5,218 | 504 | . . . | 17,802 | . . . | 1,141 | 27,299 | 26,239 | 1,060 | 4.0 | 8,291 |
1987 | 31,844 | 7,409 j | 6,747 j | 661 j | . . . | 23,560 j | . . . | 876 | 31,740 | 30,820 | 921 | 3.0 | 8,394 |
1988 | 35,825 | 8,761 j | 7,983 j | 778 j | . . . | 26,203 j | . . . | 861 | 35,229 | 33,970 | 1,260 | 3.7 | 8,990 |
1989 | 44,349 k | 12,263 k,l | 9,793 | 993 | . . . | 30,852 | . . . | 1,234 k | 39,783 k | 38,294 | 1,489 k | 3.9 | 13,556 k |
1990 | 45,913 | 11,320 | 10,311 | 1,008 | . . . | 33,035 | . . . | 1,558 | 43,987 | 42,468 | 1,519 | 3.6 | 15,482 |
1991 | 51,224 | 11,934 | 10,846 | 1,088 | . . . | 37,602 | . . . | 1,688 | 48,877 | 47,336 | 1,541 | 3.3 | 17,828 |
1992 | 57,237 | 14,077 m | 12,814 m | 1,263 m | . . . | 41,359 m | . . . | 1,801 | 50,830 | 49,260 | 1,570 | 3.2 | 24,235 |
1993 | 57,679 | 14,193 m | 12,731 m | 1,462 m | . . . | 41,465 m | . . . | 2,021 | 57,783 | 55,784 n | 2,000 | 3.6 | 24,131 |
1994 | 55,608 | 17,386 | 15,569 | 1,817 | . . . | 36,203 | . . . | 2,018 | 60,317 | 58,618 | 1,699 | 2.9 | 19,422 |
1995 | 60,306 | 19,717 | 17,651 | 2,066 | . . . | 39,007 | . . . | 1,582 | 66,599 | 64,972 | 1,627 | 2.5 | 13,130 |
1996 | 85,609 | 18,763 | 16,654 | 2,109 | . . . | 65,035 | . . . | 1,811 | 70,408 | 68,598 | 1,810 | 2.6 | 28,332 |
1997 | 81,924 | 19,289 | 17,079 | 2,210 | . . . | 60,171 | . . . | 2,464 | 74,124 | 72,757 | 1,368 | 1.9 | 36,131 |
1998 | 87,711 | 20,933 o | 18,594 o | 2,338 o | . . . | 64,068 o | . . . | 2,711 | 77,630 | 76,125 p | 1,505 | 2.0 | 46,212 |
1999 | 80,902 | 18,967 o | 16,604 o | 2,362 o | . . . | 59,095 o | . . . | 2,841 | 82,327 | 80,724 p | 1,603 | 2.0 | 44,787 |
2000 | 89,903 | 20,555 | 17,892 | 2,664 | . . . | 65,898 o | . . . | 3,450 | 90,663 | 88,893 p | 1,770 | 2.0 | 44,027 |
2001 | 98,629 | 22,764 | 19,905 | 2,859 | . . . | 72,793 | . . . | 3,071 | 101,386 | 99,663 p | 1,723 | 1.7 | 41,270 |
2002 | 106,196 | 25,066 | 21,610 | 3,456 | . . . | 78,338 | . . . | 2,792 | 113,165 | 110,969 p | 2,196 | 2.0 | 34,301 |
2003 | 115,796 | 27,402 | 23,546 | 3,856 | . . . | 86,402 | . . . | 1,992 | 126,144 | 123,825 p | 2,318 | 1.9 | 23,953 |
2004 | 133,787 | 31,435 | 26,737 | 4,699 | . . . | 100,858 | . . . | 1,495 | 138,311 | 135,418 | 2,893 | 2.1 | 19,430 |
2005 | 158,089 | 37,535 | 31,722 | 5,813 | . . . | 119,189 | . . . | 1,365 | 153,511 | 150,326 | 3,185 | 2.1 | 24,008 |
2006 | 225,492 | 46,303 q | 36,346 | 6,507 | 3,450 q | 171,910 | 5,474 | 1,804 | 216,381 | 213,012 q | 3,369 | 1.6 | 33,119 |
SOURCES: 2007 Annual Report of the Boards of Trustees of the Federal Supplementary Medical Insurance and Federal Supplementary Medical Insurance Trust Funds , Table lIl.C1, analogous tables from earlier annual reports, and unpublished Treasury reports. Because the table published in the 2007 Annual Report displays dollars rounded to the tenths of billions, an analogous unpublished table displaying dollars rounded to the millions was also used. | |||||||||||||
NOTES: Totals do not necessarily equal the sums of rounded components.
. . . = not applicable; SMI = Supplementary Medical Insurance; HI = Hospital Insurance.
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a. The financial status of SMI depends on both the assets and the liabilities of the trust fund. | |||||||||||||
b. For Part D, premiums include both amounts withheld from Social Security benefit checks (and other certain Federal benefit payments) and amounts paid directly to Part D plans; the premiums paid directly to Part D plans are not displayed on Treasury statements and are estimated. | |||||||||||||
c. For Part B, includes matching payments from the general fund, plus certain interest-adjustment items. For Part D, includes all federal government transfers, including amounts for the general subsidy, reinsurance, employer drug subsidy, low-income subsidy, administrative expenses, risk sharing, and state expenses for making low-income eligibility determinations. Includes amounts for the transitional assistance benefits in 2004–2006. | |||||||||||||
d. With the availability of Part D drug coverage and low-income subsidies beginning in 2006, Medicaid is no longer the primary payer for full-benefit dual eligibles. States are subject to a contribution requirement and must pay the Part D account in the SMI trust fund a portion of their estimated forgone drug costs for this population. Starting in 2006, states must pay 90 percent of the estimated costs, with this percentage phasing down over a 10-year period, to 75 percent in 2015 and later. | |||||||||||||
e. Other income includes recoveries of amounts reimbursed from the trust fund that are not obligations of the trust fund and other miscellaneous income. | |||||||||||||
f. Values after 2005 include additional premiums for Medicare Advantage (MA) plans that are deducted from beneficiaries' Social Security checks. These additional premiums are beneficiary obligations and occur when a beneficiary chooses an MA plan whose monthly plan payment exceeds the benchmark amount. Beneficiaries subject to such premiums may choose to either reimburse the plans directly or have the premiums deducted from their Social Security checks. The premiums deducted from the Social Security checks are transferred to the HI and SMI trust funds and then transferred from the trust funds to the plans. | |||||||||||||
g. Includes costs of Peer Review Organizations from 1983 to 2001 and costs of Quality Improvement Organizations beginning in 2002. | |||||||||||||
h. For Part D, includes payments to plans, subsidies to employer-sponsored retiree prescription drug plans, payments to states for making low-income eligibility determinations, Part D drug premiums collected from beneficiaries and transferred to Medicare Advantage plans and private drug plans, and premium amounts paid directly by enrollees to plans. (The last item is on an estimated basis; see footnote b.) Includes amounts for the transitional assistance benefits in 2004–2006. | |||||||||||||
i. Section 708 of Title VII of the Social Security Act modified the provisions for the delivery of Social Security benefit checks when the regularly designated delivery day falls on a Saturday, Sunday, or legal public holiday. Delivery of benefit checks normally due January 1982 occurred on December 31, 1981. Consequently, the SMI premiums withheld from the checks ($264 million) and the associated general revenue contributions ($883 million) were added to the SMI trust fund on December 31, 1981. These amounts are excluded from the premium income and general revenue income for calendar year 1982. | |||||||||||||
j. Delivery of benefit checks normally due January 1988 occurred on December 31, 1987. Consequently, the SMI premiums withheld from the checks ($692 million) and the associated general revenue contributions ($2,178 million) were added to the SMI trust fund on December 31, 1987. These amounts are excluded from the premium income and general revenue income for calendar year 1988 (see footnote i). | |||||||||||||
k. Includes the impact of the Medicare Catastrophic Coverage Act of 1988 as provided for by Public Law (P.L.) 100-360. | |||||||||||||
l. Catastrophic coverage premiums—$1.5 billion—not distributed between aged and disabled enrollees are included in total. | |||||||||||||
m. Delivery of benefit checks normally due January 1993 occurred on December 31, 1992. Consequently, the SMI premiums withheld from the checks ($1,089 million) and the associated general revenue contributions ($3,175 million) were added to the SMI trust fund on December 31, 1992. These amounts are excluded from the premium income and general revenue income for calendar year 1993 (see footnote i). | |||||||||||||
n. Includes the impact of the transfer to the Hospital Insurance (HI) trust fund of the SMI catastrophic coverage reserve fund on March 31, 1993, as specified in P.L. 102-394. Actual benefit payments for 1993 were $53,979 million, and the amount transferred was $1,805 million. | |||||||||||||
o. Delivery of benefit checks normally due January 1999 occurred on December 31, 1998. Consequently, the SMI premiums withheld from the checks ($1,512 million) and the associated general revenue contributions ($4,711 million) were added to the SMI trust fund on December 31, 1998. These amounts are excluded from the premium income and general revenue income for calendar year 1999 (see footnote i). | |||||||||||||
p. Benefit payments less monies transferred from the HI trust fund for home health agency costs, as provided for by P.L. 105-33. | |||||||||||||
q. Includes an estimated $2,266 million for premiums paid directly to Part D plans. See also footnotes b and h. | |||||||||||||
CONTACT: Suzanne Codespote (410) 786-7737. |