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Article: MEDICARE TRUST FUND SHOWS RISING LOSSES.(News)
- Article from:
- Seattle Post-Intelligencer
- Article date:
- April 23, 1996
CopyrightCOPYRIGHT 1996 Seattle Post-Intelligencer. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Medicare's Hospital Insurance Trust Fund lost $4.2 billion in the first half of the current fiscal year, according to new government data, which suggest that the financial condition of the program is worse than projected by administration officials last year.
The trust fund, which pays hospital bills for the elderly and disabled, lost money last year for the first time since 1972. But the loss for all of last year was only $35.7 million.
The new data show that the losses are growing. In the first half of the current fiscal year, from October 1995 through March of this year, the trust fund spent $60.5 billion and took in $56.3 billion, a shortfall of $4.2 ...