Contact: Rusty Jabour
Website: http://medicare.commission.gov

Federal Reserve Board Chairman Alan Greenspan to Testify April 20 Before Medicare Commission

The Commission will meet in the Hart Senate Office Building, Room 216, in two sessions: the afternoon of April 20, beginning at 1:00 p.m., and the morning of April 21, beginning at 8:30 a.m.

Both sessions will feature testimony from witnesses about the challenges Medicare will face as 77 million "Baby Boomers" begin entering the program in the year 2010. The Commission will hear from the witnesses during four panels described on the following page.

Panel 1: "America in the Next Century"
Monday, April 20, 1:00 p.m.
Witness: Federal Reserve Board Chairman Alan Greenspan
America in the 21st Century will look different as the average age of the population increases. This session will look at the broader context of how demographic changes will impact the economy and society (i.e., housing market, retirement patterns, immigration policies, etc.) and how these outside forces may affect Medicare.

Panel 2: "The Health Needs of an Aging Population"
Monday, April 20, 2:45 p.m.
Witnesses: Robert Butler (International Longevity Center); John Eisenberg (Agency for Health Care Policy and Research); and Jonathan Peck (Institute for Alternative Futures)
This session will examine how society's health needs will change as the average age increases and technology changes. Testimony will profile the economic and health status of the elderly and will examine new trends in aging research and long-term care. This session also will explore how new treatments or changing disease patterns could affect the elderly, the Medicare program and health systems.

Panel 3: "Medicare and the Baby Boomers"
Tuesday, April 21, 8:30 a.m. Witnesses: Rick Foster (Health Care Financing Administration actuary); Jeff Lemieux (Medicare Commission staff); Karen Davis (Commonwealth Fund); and Gail Wilensky (Med Pac, Project HOPE)
This session will look at the impact of upcoming demographic changes on the Medicare program and steps already taken to prepare the program. Various analyses will be presented, including a 10-year versus 25-year forecast of Medicare spending/financing; Medicare per capita growth rate versus private sector and economic growth rates; and estimated cost reductions already implemented.

Panel 4: "Multi-Generational Perspectives"
Tuesday, April 21, 10:00 a.m. Witnesses: Esther Tess Canja (American Association of Retired Persons); Alden Levy (Third Millennium); and Meredith Bagby (Third Millennium)
The Commission will hear different public perspectives about the current Medicare program. Many Americans are worried that Medicare will not be there for them when they retire, and others are concerned that the current program does not meet their family's health needs. This session will allow the Commission to hear from persons spanning a wide range of ages and perspectives. Testimony is expected to cover the adequacy of benefits, the delivery structure, the need for change, and confidence in the sustainability of the Medicare program.

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