Medicare is burning through funds amid the coronavirus pandemic
With record numbers of Americans out of work, fewer payroll taxes are rolling in, and the numbers of beneficiaries are rising.
By Julie Rovner, Kaiser Health News|July 23, 2020 at 10:01 AM
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Everyone involved even tangentially in health care today is completely consumed by the coronavirus pandemic, as they should be. But the pandemic is accelerating a problem that used to be front and center in health circles: the impending insolvency of Medicare.
With record numbers of Americans out of work, fewer payroll taxes are rolling in to fund Medicare spending, the numbers of beneficiaries are rising, and Congress dipped into Medicare’s reserves to help fund the COVID-19 relief efforts this spring.
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