Jul 29 2014
This year’s Medicare and Social Security Trustees Report projects that Medicare will remain solvent for four years longer than was projected last year, in part as a result of cost saving measures in the Affordable Care Act (ACA).
In 2009, the Trustees projected that the Medicare Trust Fund would be exhausted in 2017. This year, just five years later, they project the Medicare Trust Fund will remain solvent until 2030. This 13-year increase in Medicare’s solvency is due in part to cost-saving reforms in the ACA, such as reducing preventable readmissions by giving hospitals a strong financial incentive to properly treat patients the first time. These trends are helping seniors today, as the Trustees predict that current Medicare beneficiaries will see no premium increase in 2015.
“The Trustees Report shows that the Affordable Care Act is continuing to help responsibly bend the health care cost curve, while increasing the quality of health care services for families across the country. This is making a difference for family budgets and the federal budget, and we need to build on this progress with additional reforms that drive health care costs down responsibly,” said Senate Budget Committee Chairman Patty Murray (D-WA).
You can read the entire report here.