As Democrats Push Medicare for All, New Report Shows Current System Could Be Under Water by 2026

Yuri Gripas/File Photo/Reuters

As several 2020 Democrats promise to stretch Medicare to cover every American, the current system is heading full-speed toward a cliff.

The latest report from the trustees of Medicare and Social Security showed that Medicare will be insolvent by 2026 if nothing changes.

The trustees found that the fund that maintains Medicare Part A, which covers inpatient hospital services, skilled nursing facility and home health services following hospital stays, and hospice care, will run dry in 2026. After that, the current revenues for the fund will only cover 89 percent of the demand.

Medicare’s fund began to deplete as demographic changes hit America. The Baby Boomers provided a steady flow of income into the system when they were the foundation for the program, but now they are on the receiving end and the working population is much smaller.

The trustees recommended that Congress take swift action to address the flaws in Medicare in order to prevent a collapse.

“The Trustees recommend that lawmakers take action sooner rather than later to address these shortfalls, so that a broader range of solutions can be considered and more time will be available to phase in changes while giving the public adequate time to prepare. Earlier action will also help elected officials minimize adverse impacts on vulnerable populations, including lower-income workers and people already dependent on program benefits.”

Social Security is facing a similar fate. Trust funds that keep the program afloat are expected to be depleted by 2035.

Despite the pending collapse of Medicare, Democrats keep suggesting that the system should be used to fund the health care of all Americans.

Senators Bernie Sanders (I-Vt.) and Kamala Harris (D-Calif.) have both proposed getting rid of the private health insurance industry so that Medicare can take over. Other Democrats, like Mayor Pete Buttigieg (D-Ind.) have proposed opening Medicare to all Americans while allowing others to stay on their insurance if they so choose.

As IJR previously reported, “Medicare for All” could cost more than $32 trillion over the first decade.

What do you think?

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James
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Sounds like the typical absurd pipe dream the Dems are known for. Maybe AOC’s asinine dream of increasing taxes to 70% and 90% to pay for all the “free stuff”will also increase the number of people on food stamps, unemployment and close businesses as higher taxes generally do.

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