tci Medicare Compliance & Reimbursement - 2011 Issue 11

Medicare Funding: Medicare Risks Going Broke in 2024, Trustees' Report Says

CMS says it is making changes to ensure the program stays funded longer than projected. The recent widely-reported news about Medicare going broke by 2024 was not a late April Fool's joke, unfortunately. Part A spending is growing faster than taxes are coming in to pay for the program and the Part A coffers will be empty by 2024 unless the government takes action, according to the "2011 Annual Report of the Boards of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds," which was published on May 13. Part B and Part D...

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