Sunday, July 30, marks the 58th anniversary of the creation of Medicare and Medicaid. They came into being in 1965 under President Lyndon Johnson and his “Great Society” program.
Unfortunately, the programs are finishing out their sixth decade in a state of crisis. They’ve ballooned into enormously costly entitlements that deliver substandard care. And they’ll only become more unsustainable without serious reform.
Take Medicare, which covers Americans 65 and older and certain people with disabilities. It cost taxpayers $10 billion in its first year. In 2022, the program spent nearly $750 billion—equivalent to about one-fifth of U.S. health expenditures.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
Medicare And Medicaid’s Midlife Crisis Should Be A Wake-Up Call For Reform
Sally C. Pipes
Sunday, July 30, marks the 58th anniversary of the creation of Medicare and Medicaid. They came into being in 1965 under President Lyndon Johnson and his “Great Society” program.
Unfortunately, the programs are finishing out their sixth decade in a state of crisis. They’ve ballooned into enormously costly entitlements that deliver substandard care. And they’ll only become more unsustainable without serious reform.
Take Medicare, which covers Americans 65 and older and certain people with disabilities. It cost taxpayers $10 billion in its first year. In 2022, the program spent nearly $750 billion—equivalent to about one-fifth of U.S. health expenditures.
In 2031—when one in five Americans will be over 65—Medicare’s tab is projected to reach $1.8 trillion.
Click to read the full article in Forbes.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.