CBO Trims Spending Forecasts for Medicare, Medicaid

Law360, New York (August 23, 2012, 5:40 PM EDT) -- Spending on Medicare and Medicaid is significantly lower than expected this year, but the government health programs will consume progressively larger shares of the nation’s budget in coming years, the Congressional Budget Office reported Wednesday.

Medicare has witnessed lower-than-expected outlays for three straight years amid lousy economic conditions, with savings this year coming mainly from surprisingly low expenditures for Part B medical coverage, the CBO said.

The government insurance program will cost about $550 billion this year, nearly $20 billion less than expected, according to the...
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