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and thus overall Medicaid costs jumped ~11%
document employer-sponsored health insurance in the recession House Oversight Committee — Epstein Estate Records (Nov 2025)

and thus overall Medicaid costs jumped ~11%

USA Inc. “Business Lines” Have Expanded
document IMAGES-006-HOUSE_OVERSIGHT_020861.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

USA Inc. “Business Lines” Have Expanded From Defense to Insurance & Other Areas USA Inc. Major ‘Business Line’ Spending as % of GDP, F1800 vs. F1900 vs. F2000 F1800 F1900 F2000 2.2% 2.5% 18.2% Defense Other 3.0% 0.3% Defense 1.3% Note: Fiscal year 1800/1900 ended in June....

How Did USA Inc.'s Financial Reality
document IMAGES-006-HOUSE_OVERSIGHT_020860.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

How Did USA Inc.'s Financial Reality Get to this Difficult Point? USA Inc. Has Not Adequately Funded Its Entitlement Programs Recessions come and go (and affect USA’s revenue), but future claims (related to entitlement program commitments) on USA Inc. now meaningfully exceed i...

ow Might One Think About Turning Around USA Inc.?
document IMAGES-006-HOUSE_OVERSIGHT_021063.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

... ow Might One Think About Turning Around USA Inc.? One might consider... e Options for reducing expenses by focusing on entitlement reform and operating efficiency — Formula changes could help Social Security's underfunding, but look too draconian for Medicare/Medicaid; the...

Accountable Care Organization (ACO)
document IMAGES-006-HOUSE_OVERSIGHT_021076.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Glossary Accountable Care Organization (ACO) - A health system model with the ability to provide, and manage with patients, the continuum of care across different institutional settings, including at least ambulatory (outpatient) and inpatient hospital care and possibly post acu...

What Might a Turnaround Expert Consider?: ----s- sess sees eee 221
document IMAGES-006-HOUSE_OVERSIGHT_020829.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

What Might a Turnaround Expert Consider?: ----s- sess sees eee 221 High-Level Thoughts on How to Turn Around USA Inc.’s Financial Outlook - --- 237 Focus onExpenses - ++ ttt ttt ee 953 Reform Entitlement Programs «++ ss ttt ttt tt tt te 255 Restructure Social Security - + - t...

The Fund Managers believe a number of macro market factors have aligned to create attractive
document IMAGES-007-HOUSE_OVERSIGHT_024035.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ds of their counterparts in developed economies. The size of the middle *! CMS, OECD, Eurostat 22 Historical data from Centers for Medicare and Medicaid Services, Office of the Actuary, National Health Statistics Group U.S. Census Bureau Alvarez & Marsal healthcare, getting muc...

Appendix — Useful Links
document IMAGES-006-HOUSE_OVERSIGHT_021074.txt Aug 5, 2010 House Oversight Committee — Epstein Estate Records (Nov 2025)

…Office, “Budget and Economic Outlook, Fiscal Years 2011 Through 2021,” 1/2011 e Department of Health & Human Services, Centers for Medicare & Medicaid Services, “The 2010 Annual Report of the Board of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical I...