If you have ever wondered about how Medicare is funded, this is a great article to read. Lots of data!
Juliette Cubanski Follow @jcubanski on Twitter and Tricia Neuman Follow @tricia_neuman on Twitter
Published: Mar 16, 2021FacebookTwitterLinkedInEmailPrint
Medicare, the federal health insurance program for more than 60 million people ages 65 and over and younger people with long-term disabilities, helps to pay for hospital and physician visits, prescription drugs, and other acute and post-acute care services. Medicare spending often plays a major role in federal health policy and budget discussions, since it accounts for 21% of national health care spending and 12% of the federal budget. Recent attention has focused on one specific measure of Medicare’s financial condition – the solvency of the Medicare Hospital Insurance (HI) trust fund, out of which Medicare Part A benefits are paid – because the HI trust fund is projected to be depleted in 2026, just five years from now. These FAQs answer key questions about Medicare financing and trust fund solvency.