Medicare Bankruptcy, Can We Stop It?

The Congressional Budget Office stated recently Medicare for Part A (The Medicare Hospital Insurance Trust Fund) will run out of money in 10 years. Why, this fund is largely funded from the Medicare payroll tax, which comprises 89% of the Fund income, so with a shrinking workforce that means the lawmakers need to find money from somewhere else to fund this program.

But there are ways now to help prolong the life of this program; it is through the Medicare RAC (Recovery Audit Contractor) program. The government estimates that in 2015 Medicare lost $43.3 billion due to improper billing by providers; however, due to provider group’s pressure, the government has scaled back this program. Read article here…..

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