A crisis looms on the horizon for Medicare Insurance. For years, we’ve been hearing that the Medicare Insurance Fund would run out of money, and the recent economic recession has only worsened the outlook for Medicare.
According to current projections by the trustees responsible for Medicare, the Medicare Hospital Insurance program will run out of money in 2017. When that happens, Medicare will be unable to pay all of its hospital bills.
Making matters worse, Congress plans to use funds from Medicare to pay for health care reform, which will put further pressure on the Medicare Trust Fund.
There are no easy solutions to the Medicare Insurance crisis. One thing is clear, however. Each year that goes by without taking action to solve the problem will only make the solution more painful when it is finally addressed.
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