Some politicians are promising to “protect” Medicare by leaving it alone while others pledge to expand it. Such vows ignore the fact that Medicare faces serious financial issues that must be addressed. In their latest report, the Medicare trustees project that the Hospital Insurance trust fund, which finances Medicare Part A, will be exhausted by 2026. That means recipients will face benefit cuts just eight years from now if something isn’t done.
An aging population and rising health care costs will present significant challenges
Medicare will consume a larger share of the federal budget and push debt higher
Medicare’s finances will deteriorate, imperiling benefits
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