Although Medicare faces financing challenges, the program is not on the verge of bankruptcy or ceasing to operate. Even inwhen the HI trust fund is projected to be depleted, incoming payroll taxes and other revenue will still be sufficient to pay 91 percent of Medicare hospital insurance costs.
The latest report from the Social Security Administration revealed that Social Security funds will be depleted byand Medicare funds will be depleted by —three years earlier than what was last reported.
Last year, Social Security and Medicare funds accounted for 42 percent of federal program expenditures, and as the report noted: Lawmakers have a broad continuum of policy options that would close or reduce the long-term financing shortfall of both programs.
The Trustees recommend that lawmakers take action sooner rather than later to address these shortfalls so that a broader range of solutions can be considered and more time will be available to phase in changes while giving the public adequate time to prepare.
Earlier action will also help elected officials minimize adverse impacts on vulnerable populations, including lower-income workers and people already dependent on program benefits.
In reality, the federal government is using the money it extorts from citizens to fund endless wars in the Middle East—with the price tag for the longest war in U.
While other countries accused Israel of war crimes and called for an investigation, the U. If countries such as Syria, Russia, or Iran, were targeting civilians in the same way that Israel is, the United States would be calling for a full-scale invasion.Taxation of Social Security benefits is another source of income for the Social Security and Medicare trust funds.
Beneficiaries with incomes above $25, for individuals (or $32, for married couples filing jointly) pay income taxes on up to 50 percent of their benefits, .
In the United States, Medicare is a national health insurance program, now administered by the Centers for Medicaid and Medicare Services of the U.S. federal government but begun in under the Social Security Administration.
United States Medicare is funded by a combination of a payroll tax, premiums and surtaxes from beneficiaries, and . If you have moved outside the United States permanently, you should decide whether to keep Medicare Parts A and B.
Remember, you can have Medicare while you live abroad, but it will usually not cover . Jun 13, · Social Security & Medicare are slowly dying, but no one in Washington will lift a finger Andrew Cline, Opinion contributor Published a.m.
ET June 13, | Updated p.m. ET June 13, Paul Ryan was demonized for his plan to cut Medicare spending, and now Democrats and Republicans are united in ignoring .
The causes primarily are the failure of Social Security to keep up with inflation, soaring medical costs, the disappearance of company pensions, and the inability of people to set aside retirement. Medicare Coverage Outside the United States.
Medicare coverage outside the United States is limited. Learn about coverage if you live or are traveling outside the United States.
Original Medicare. If you have Original Medicare and have a Medigap policy, it may provide coverage for foreign travel emergency health care.
Learn more from this .