Subcommittee on Health to Hold Hearing on Medicare Trustees' 2008 Annual Report

The House Ways and Means Subcommittee on Health recently released a Hearing Advisory announcing that it will hold a hearing on the 2008 Annual Report of the Medicare Board of Trustees (Trustees).  The hearing is scheduled to take place at 10:00 a.m. on April 1, 2008. The 2008 Annual Report was released on March 25, 2008. In the 2008 Annual Report, the Trustees indicate that the financial outlook for the Medicare program continues to raise serious concerns.  However, in the Hearing Advisory, Subcommittee on Health Chairman Pete Stark states:

"Reviewing the Trustees' Report is a core part of Congress's oversight responsibilities, and one I take seriously.  Medicare is critically important to the 44 million beneficiaries who rely on it for health care and financial peace of mind.  While the program faces demographic challenges in the future, those can be dealt with if there is a bipartisan commitment to preserve and improve the program.  We should not succumb to alarmist claims that the sky is falling.  The most important immediate step we can take to help Medicare's financial outlook is to eliminate the Medicare Advantage overpayments.  This corporate pork fattens insurance company profits while unnecessarily draining program resources.  I can't take seriously the claims of concern from those who protect these excessive payments at the expense of beneficiaries, taxpayers and the program's future."