Average Spending for Medicare Rises 8.7%
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Associated Press
WASHINGTON — Medicare spent $3,940 on average last year for each of its 36 million elderly or disabled beneficiaries, the government reported Friday.
That figure represented an 8.7% increase from the year before. The growth rate was down from 11.5% in fiscal 1992, the Health Care Financing Administration said.
Total Medicare benefit payments in fiscal 1993 were $142.9 billion, or 10.6% more than the earlier year. The total payments grew at a faster rate in part because of a 1.7% increase in the number of people enrolled in Medicare.
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