People are pessimistic about Medicare’s longevity. Roughly 7 in 10 adults under 65 say they’re “worried” or “extremely worried” the program won’t be around when they need it, according to a new Gallup poll.
That may come as no surprise. Medicare expenditures exceeded $1 trillion in 2023. They’re on track to grow by roughly $930 billion over the next decade. The program’s Part A hospital insurance trust fund will run out of money in 2036, based on current trends.
Preserving Medicare for future generations will require reining in the program’s future spending commitments.
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.
People think Medicare is going bankrupt
Sally C. Pipes
People are pessimistic about Medicare’s longevity. Roughly 7 in 10 adults under 65 say they’re “worried” or “extremely worried” the program won’t be around when they need it, according to a new Gallup poll.
That may come as no surprise. Medicare expenditures exceeded $1 trillion in 2023. They’re on track to grow by roughly $930 billion over the next decade. The program’s Part A hospital insurance trust fund will run out of money in 2036, based on current trends.
Preserving Medicare for future generations will require reining in the program’s future spending commitments.
Click to read the full article in the Washington Examiner.
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.