The trustees made the same estimate in last year’s annual report, and as in past reports, the trustees determined the hospital trust fund is not adequately funded over the next decade.
“The financial projections in this report indicate a need for additional steps to address Medicare’s remaining financial challenges,” the trustees said in the report.
The trustees urged lawmakers to act on this issue quickly.
“The sooner solutions are enacted the more flexible and gradual they can be. Moreover, the early introduction of reforms increase the time available for affected individuals and organizations — including healthcare providers, beneficiaries and taxpayers — to adjust their expectations and behavior,” said the trustees in the report.
Once the Medicare trust fund is exhausted, the program would only be able to pay about 86 percent of costs in 2030.
Due to technical and policy changes, the trustees’ projections for Medicare’s total costs were significantly lower over the long term compared to the forecasts provided last year.
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