Medicaid spending expected to rise by 5.6% this fiscal year

Share this article:

Medicaid spending is expected to expand by 5.6% for fiscal 2005, despite a projected drop in the federal budget deficit for the same time period. Spending for the program is expected to rise to $186 billion in fiscal 2005 compared to $176 billion in 2004, according to the Congressional Budget Office.

Similarly, Medicare spending should increase by 9.4%, to $325 billion, for fiscal 2005, from $297 billion in fiscal 2004, CBO said this week.

Medicaid and Medicare funding combined cover about 75% of all nursing home patients in America. Medicaid spending is estimated to skyrocket to $392 billion in 2015, an increase of 123% compared to 2004.

The deficit is projected to decrease to $368 billion in fiscal 2005. That compares to a deficit of $412 billion in fiscal 2004. The $368 billion, however, does not factor in spending for the conflicts in Iraq and Afghanistan.

Share this article:

More in News

Congressman requests briefing on nursing home five-star rating system

Congressman requests briefing on nursing home five-star rating ...

A leader in Congress has called for an evaluation of the nursing home five-star rating system in light of a recent New York Times article. Rep. Elijah Cummings (D-MD) requested ...

CMS: Discharge assessments must be completed when residents transfer to a non-certified ...

Skilled nursing facilities must complete a discharge assessment when a resident is transferred from a certified to a non-certified bed, even if both beds are in the same building, the Centers for Medicare & Medicaid Services emphasizes in a recent memorandum.

Focusing on a single word might improve nursing home residents' quality of ...

An affordable, easily implemented relaxation technique could improve nursing home residents' psychological well-being. It also could potentially boost their immune systems, according to recently published findings.