Medicare and Social Security have been a topic of most politicians for who knows how many years. The government is set to have about $700 billion to this years Medicare budget. There was a plan to do some budget cutting for Medicare, but legislators fought and acted to prevent those cuts from happening.
Medicare, Social Security and other programs will still be under a microscope for budget cuts for years to come. We can only hope, and try to stay on top of what our government officials vote on and how they vote in order to keep those programs functioning. Being a part of the boomer generation, we are a big part of our population, and our voice at the ballot box is voice that can’t be ignored.
— Dave Obregon | 888-355-1599
Medicare Will Spend Less Than Projected
One of the reasons that the Congressional Budget Office originally predicted that Medicare would run out of money within a decade is because they anticipated that by 2019 Medicare would be spending $14,913 per year for each beneficiary of the program.
However, Medicare costs are not rising as fast as anticipated. Recently, the CBO has revised its numbers and now they only expect Medicare to spend $12,478 per year for each beneficiary by 2019.
That is almost $2,500 less per person than they originally projected and is great news for the solvency of the program. (click here)