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Financial Report of the United States Government

Financial Statements of the United States Government for the Fiscal Years Ended September 30, 2023, and 2022

Statements of Changes in Social Insurance Amounts

United States Government
Statement of Changes in Social Insurance Amounts
for the Year Ended September 30, 2023 (Note 25)

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(In trillions of dollars)		 Social
Security 1 		Medicare
HI 1 		Medicare
SMI 1,3
Other 2
Total
NPV of future revenue less future expenditures for current and future participants (open group) over the next 75 years, beginning of the year (23.3) (5.0) (47.5) (0.1) (75.9)
Reasons for changes in the NPV during the year:
Changes in valuation period (0.7) (0.2) (1.1) - (2.0)
Changes in demographic data, assumptions, and methods (0.1) (0.3) 0.2 - (0.2)
Changes in economic data, assumptions, and methods (0.8) - - - (0.8)
Changes in law or policy - - 1.1 - 1.1
Changes in methodology and programmatic data (0.3) - - - (0.3)
Changes in economic and health care assumptions - (0.3) (2.3) - (2.6)
Change in projection base - 1.2 1.1 - 2.3
Net change in open group measure (1.9) 0.4 (1.0) - (2.5)
Open group measure, end of year (25.2) (4.6) (48.5) (0.1) (78.4)
 
1 Amounts represent changes between valuation dates 1/1/2022 and 1/1/2023.
2 Includes Railroad Retirement changes between valuation dates 10/1/2021 and 10/1/2022 and Black Lung changes between 9/30/2022 and 9/30/2023.
3 Amounts shown exclude General Fund transfers reported by CMS for Medicare's Parts B and D.
 
The accompanying notes are an integral part of these financial statements.

United States Government
Statement of Changes in Social Insurance Amounts
for the Year Ended September 30, 2022 (Note 25)

Table may scroll on smaller screens


(In trillions of dollars)		 Social
Security 1 		Medicare
HI 1		 Medicare
SMI 1,3
Other 2
Total
NPV of future revenue less future expenditures for current and future participants (open group) over the next 75 years, beginning of the year (22.7) (5.0) (43.2) (0.1) (71.0)
Reasons for changes in the NPV during the year:
Changes in valuation period (0.7) (0.1) (0.9) - (1.7)
Changes in demographic data, assumptions, and methods (0.3) - (0.5) - (0.8)
Changes in economic data, assumptions, and methods (0.2) - - - (0.2)
Changes in law or policy - - - - -
Changes in methodology and programmatic data 0.6 - - - 0.6
Changes in economic and health care assumptions - (1.9) (3.4) - (5.3)
Change in projection base - 2.0 0.5 - 2.5
Net change in open group measure (0.6) - (4.3) - (4.9)
Open group measure, end of year (23.3) (5.0) (47.5) (0.1) (75.9)
 
1Amounts represent changes between valuation dates 1/1/2021 and 1/1/2022.
2Includes Railroad Retirement changes between valuation dates 10/1/2020 and 10/1/2021 and Black Lung changes between 9/30/2021 and 9/30/2022.
3Amounts shown exclude General Fund transfers reported by CMS for Medicare's Parts B and D.
 
The accompanying notes are an integral part of these financial statements.
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Last modified 03/13/24