This may change as the Affordable Care Act ACA insurance subsidies continue to be undermined and high-deductible plans spread. Pump up revenues and get the economy growing and the financing challenges involved with the two government health care programs are manageable, he said.Since , changes in the law, the economy, and other factors have brought the projected year of Medicare HI insolvency as close as two years away or pushed it as far as 28 years into the future. Every time Congress changes tax rates, it changes the amount of income retirees can expect to be able to consume from traditional accounts. Get Our Newsletters. And the Administration has failed to address excessive Medicare Advantage payments due to insurance company assessments of their beneficiaries that make them appear less healthy than they are. It has added 7 million people since Look at Medicare and Medicaid. We have to do something about catastrophic out-of-pocket expenses.
By delaying action, policymakers are making it more difficult for households to plan for their own future.
Deval Patrick and former Kentucky Gov.
See Figure 1. The second possibility is the opposite.
The recent tax cut passed by Congress would also result in fewer Social Security taxes paid into the hospital trust fund, as some higher-income seniors pay taxes on their Social Security benefits.
If a crisis arrives, it might represent a real possibility to correct these giant imbalances.