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About the Board of Trustees

Guidance for defining the Board of Trustees in which the Social Security Act established the Medicare Board of Trustees to oversee the financial operations of the HI and SMI trust funds.

Issued by: Centers for Medicare & Medicaid Services (CMS)

Issue Date: April 21, 2020

The Social Security Act established the Medicare Board of Trustees to oversee the financial operations of the HI and SMI trust funds. The Board has six members. Four members serve by virtue of their positions in the Federal Government: the Secretary of the Treasury, who is the Managing Trustee; the Secretary of Labor; the Secretary of Health and Human Services; and the Commissioner of Social Security. Two other members are public representatives whom the President appoints and the Senate confirms. These positions are currently vacant. The Administrator of the Centers for Medicare & Medicaid Services (CMS) serves as Secretary of the Board.

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DISCLAIMER: The contents of this database lack the force and effect of law, except as authorized by law (including Medicare Advantage Rate Announcements and Advance Notices) or as specifically incorporated into a contract. The Department may not cite, use, or rely on any guidance that is not posted on the guidance repository, except to establish historical facts.