The report said the Medicare Trust Fund would be paying out more money than it takes in by 2024. The Trust Fund only pays for certain Medicare benefits, mostly related to hospital care.
Both Democrats and Republicans seized on the report as a reason for the country to embrace their divergent plans to slow Medicare spending.
“Having the Affordable Care Act in place is the main reason that those projections are not worse,” said HHS Secretary Kathleen Sebelius, referring to the healthcare reform law.
The GOP-run House’s budget, which would turn Medicare into a voucher program so that beneficiaries could buy coverage from private insurers, is “offering future generations a strengthened, personalized Medicare program they can count on,” said Rep. Paul Ryan (R-Wis.), chairman of the House Budget Committee.
Read the Hill report on Medicare.
Related Articles on Medicare Funds:
$6.7B Bonus Saves Many Medicare Advantage Plans From Losses
Hospital Groups Slam GOP Budget Plan, Especially Medicaid Cuts
GOP Proposal Would Fundamentally Change Medicare, Medicaid
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