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Medicare’s Trust Fund depletion now predicted as 3 years sooner
The nation’s premier healthcare program for over 60 million Americans is now scheduled to run out of reserves three years earlier than previously predicted by the program’s Trustees. In its annual report released yesterday, the Board of Trustees revealed that unless Congress takes action soon, by 2026 Medicare will have depleted its Trust Fund and won’t be able to fully meet obligations to pay healthcare providers at the agreed-upon rates. Although Medicare’s financial issues are decidedly more difficult to solve, Social Security - the nations other critical benefit program - faces a similar issue in 2034. According to this Associated Press article appearing in the Jackson (MS) Clarion Ledger, the current climate in Congress makes the outlook for both programs uncertain. Click here to read more.
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