Hospital Insurance Trust Fund
- Hospital Insurance Trust Fund
- This trust fund is part A of Medicare, the United States' health insurance program for people age 65 and older and certain disabled persons. It is financed through payroll taxes derived from current workers and employers. This trust fund is overseen by a board of trustees that report yearly to congress regarding its financial status. It has been projected to become insolvent a number of times throughout the years, due to legislative changes, and is currently projected to become insolvent in the year 2017.
The main concern with this fund is that over time, the Nation's economy will not support this type of program. The actual trust fund is an account mechanism, since there is no transfer of money into or out of the fund. Income to the trust fund is credited in the form of interest-bearing government securities. Expenses for services and administrative costs are recorded against the fund. If the fund has a balance, the Treasury is allowed to make payments.
Investment dictionary.
Academic.
2012.
Look at other dictionaries:
insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… … Black's law dictionary
insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… … Black's law dictionary
insurance — /in shoor euhns, sherr /, n. 1. the act, system, or business of insuring property, life, one s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a… … Universalium
Insurance — This article is about risk management. For Insurance (blackjack), see Blackjack. For Insurance run (baseball), see Insurance run. In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a… … Wikipedia
fund — {{Roman}}I.{{/Roman}} noun 1 sum of money collected for a particular purpose ADJECTIVE ▪ large ▪ special ▪ appeal (BrE), charitable, charity, disaster, relief … Collocations dictionary
Nationwide Mutual Insurance Company — Type Mutual Industry Financial services Founded 1926 … Wikipedia
Union Labor Life Insurance Company — The Union Labor Life Insurance Company (ULLICO) is a privately held life and health insurance company in the United States. ULLICO was founded in 1925 by the American Federation of Labor (AFL), which wanted to offer working people affordable… … Wikipedia
Social Security Disability Insurance — Not to be confused with Supplemental Security Income. SSDI redirects here. For the death index, see Social Security Death Index. Disability … Wikipedia
Social Protection — ▪ 2006 Introduction With medical costs skyrocketing and government programs scaled back, citizens bore more responsibility for their health care costs; irregular migration, human trafficking, and migrant smuggling posed challenges for… … Universalium
Medicare (United States) — President Johnson signing the Medicare amendment. Former President Harry S. Truman (seated) and his wife, Bess, are on the far right … Wikipedia
