Hard Decisions Ahead for Medicare (and Social Security) - The Conversation
With all the rhetoric surrounding potential “cuts” to Medicare and Social Security, now would be a good time to put aside the politics and consider how real economic experts view the future of these two crucial senior benefit programs. It’s pretty obvious that both Medicare and Social Security are facing some serious financial issues in the not-too-distant future, because program costs are more than income for both. In Medicare’s case, the problem is urgent because Medicare’s “HI” trust fund is predicted to run dry in 2028, at which point a cut in provider benefits looms. In Social Security’s case, depletion of the trust fund isn’t predicted to happen until 2035 – but that’s still close enough to cause major concern about the program’s solvency. In this article appearing at The Conversation (an academic think tank), highly credentialed authors Dennis Jansen and Andrew Rettenmaier offer their perspective on the financial status of both Medicare and Social Security. Click here to read more.