From the office of Congressman Andy Harris:
Medicare Trustees Report Projects Medicare Bankruptcy in 2024
Rep. Harris criticizes the Obama Administration for calling fiscal health “stable”
Today, the Medicare Trustees released a comprehensive report outlining the fiscal problems of the Medicare system. The report found that Medicare will go bankrupt in 2024. After the release of the report, the acting CMS Administration claimed the Medicare system is “stable.”
Congressman Andy Harris, M.D., a physician representing Maryland’s First District, released the following statement:
“The current Medicare system is not “stable” as the Administration claims; this report shows Medicare is going bankrupt. Unless action is taken to save Medicare, beneficiaries will see dramatic cuts in benefits. Instead of the Obama Administration’s plan to impose draconian cost-cutting measures which will lead to rationing of care for beneficiaries, we need comprehensive reform to the system to ensure the federal government keeps its promise of Medicare to current beneficiaries and to future generations. I am ready to work across the aisle to preserve the Medicare program through physician-patient centered reforms.”
Facts citizens should know about Medicare:
Medicare expenditures total $571 billion, of which, $211 billion comes from the general fund. Medicare premiums and taxes do not cover the costs of the system.
On average, a two earner household pays $119,000 in Medicare taxes in their lifetime, but gets $357,000 in benefits out of the system.
Each year it becomes more difficult for new Medicare patients to find healthcare providers.