The upcoming Medicare crisis

On April 22, 2020, the Medicare trustee’s report was released advising congress that the Medicare trust fund or Part A account faces insolvency in 2026. Insolvency does not mean bankruptcy but it does means that Medicare would not be able to fully reimburse hospitals, nursing homes, and home health agencies for promised benefits. Due to the effects of the COVID-19 pandemic, the Congressional Budget Office last September projected the trust fund insolvency even earlier: 2024. In an opinion column for the Chicago Tribune, Robert E. Moffit writes “painless solutions are nonexistent. But targeted solutions are available.” To find out what solutions Mr. Moffit is suggesting, click here…

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