Monday, July 25, 2022

Medicare Part C Update from 2022 Medicare Trustees Report

Usgovernmentspending.com has updated its estimate of Medicare Part C, the Medicare Advantage program using data in the Medicare Trustees Report of 2022 that was released June 4, 2022. You can see the results here.

The Budget of the United States Government reports Medicare outlays as a single line item, subfunction 571 in Historical Table 3.2, but Usgovernmentspending.com shows a breakdown of the Medicare program into its constituent parts, as follows:
  1. Part A: Hospital Insurance
  2. Part B: Supplementary Medical Insurance
  3. Part C: Medicare Advantage
  4. Part D: SMI Drug Plan
These data are constructed from data in the Public Budget Database, which provide details on Part A, Part B, and Part D, with Part C embedded in the Part A and Part B outlays. Part C is constructed from data in Table IV.C2 in the Medicare Trustees Report 2022 which reports the payments made to private Medicare health plans and the projected payments in future years.

You can inspect the extracted data from Medicare Trustees Reports Table IV.C2 here. And see the blog entry that introduced the Medicare Part C breakout to usgovernmentspending.com here.

Here is a breakdown of Medicare budgeted outlays on usgovernmentspending.com for FY 2022 before and after today's update.

Budgeted Outlays in
percent GDP
Part APart BPart CPart DTotal
Medicare
FY2022 before update0.690.681.390.373.14% GDP
FY2022 after update0.690.661.420.373.14% GDP


The update indicates a  small increase in budgeted Medicare Part C over the previous estimate in the Medicare Trustees Report in 2021.

Wednesday, July 6, 2022

State and Local Finances for 2020

On July 6, 2022 we updated the state and local spending and revenue for FY 2020 using the new Census Bureau State and Local Government Finances summaries for FY 2020 released on July 5, 2022.  This includes state and local spending for the United States as a whole and the 50 individual states and the District of Columbia.

State and local spending and revenue for FY2020 are now actual historical spending as reported by the Census Bureau.  Previously state spending and revenue for FY2020 were actual, and local spending and revenue were estimated.  The following table shows the difference between estimated and actual local spending and revenue for FY2020:

FY 2020Estimated
$ billion
Actual
$ billion
Local Spending$2,069$2,129
Local Revenue$1,443$1,488

We have updated the "guesstimated" state and local finances for FY2021-27 as indicated in our "guesstimate" blog entries.

We have also updated data for individual local government units with data for 2020. But, the Census Bureau has changed the codes for all the local government units, starting in 2018, and it will take a while to provide multi-year charts.