I have been on Medicare a long time because I am older than dirt - I know it pretty well. Even before that time, I was managing the affairs of many of my older relatives so I was seeing the cost and coverage of the Medicare system even before us Baby Boomers hit the system.
And that we have - we have hit the system with a roar and we aren’t finished yet - not til about 2030 when the remaining Boomers turn 65 and.or decide to go on this Medicare program.
Thus far, I haven’t been a high health care user and I hope that can continue but cost have soared since about 2010 - the 1st year when the Social Security Trustee started warning us of the impending shortfall in both Medicare Part A (Hospital Insurance) and in the Social Security Trust Funds.
EVERY year the Social Security Trustee Report ends the same way -and I quote from all of these annual reports -
CONCLUSION: Lawmakers have many options for changes that would reduce or eliminate the long-term financing shortfalls. Taking action sooner rather than later will allow consideration of a broader range of solutions and provide more time to phase in changes so that the public has adequate time to prepare.
Then what do our lawmakers do - NOTHING even after the appointment of several different Bi-partisan Commissions, all with recommendations -
Politics is gonna be the end of us, somehow and someway. I have no doubt but I am old. so it will be up to the younger ones to determine the course of these programs - Medicare and Social Security.
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