Supplementary Medical Insurance Trust Fund

1395t there is hereby created on the books of the treasury of the united states a trust fund to be known as the federal supplementary medical insurance trust fund hereinafter in this section referred to as the trust fund the trust fund shall consist of such gifts and bequests as may be made as provided in.

Supplementary medical insurance trust fund. We recommend that readers begin with the overview section of the report. Part b which mainly covers physician services and medical supplies and part d the newer prescription drug program. The trustees report is a detailed lengthy document containing a substantial amount of information on the past and estimated future financial operations of the hospital insurance and supplementary medical insurance trust funds see the links in the downloads section below. Supplementary medical insurance trust fund smi trust fund the medicare trust fund that partially pays for physician procedures and treatments delivered in hospital outpatient departments ambulatory surgical centers and other non hospital facilities.

Supplemental needs trust is a us specific term for a type of special needs trust an internationally recognized term. The supplemental medical insurance smi trust fund finances two voluntary medicare programs. This money comes from the medicare trust funds. In 2017 medicare covered over 58 million people.

Medicare prescription drug account in the federal supplementary medical insurance trust fund. There is hereby created on the books of the treasury of the united states a trust fund to be known as the federal supplementary medical insurance trust fund hereinafter in this section referred to as the trust fund. Supplemental needs trusts are compliant with provisions of us state and federal law and are designed to provide benefits to and protect the assets of individuals with physical psychiatric or intellectual disabilities and still allow such persons to be qualified for and. The supplemental medical insurance smi trust fund.

This fund supports medicare parts b and d which pay for care from physicians. 1395w 116 establishment and operation of account establishment there is created within the federal supplementary medical insurance trust fund established by section 1841 an account to be known as the medicare prescription drug account in this section referred to. Federal supplementary medical insurance trust funds iii letter of transmittal boards of trustees of the federal hospital insurance and federal supplementary medical insurance trust funds washington d c april 22 2020. The hospital insurance hi trust fund.

Federal supplementary medical insurance trust fund. Hospital insurance hi trust fund how is it funded. Total expenditures in 2017 were 705 9 billion. And the prescription drug benefit.

The smi trust fund received 449 1 billion in revenues and had 104 3 billion in assets at. Most home health care services. Medicare is paid for through 2 trust fund accounts held by the u s. These funds can only be used for medicare.

The trust fund shall consist of such gifts and bequests as may be made as provided in section 401 i 1 of this title such amounts as may be deposited in or.