While predictions of terror and doom from the right continue, the actual news about Obamacare is still good.
According to the Medicare Trustees, “The trust fund that finances Medicare’s hospital insurance coverage will remain solvent until 2026, two years beyond what was projected in last year’s report.”
The solvency date for Medicare Part A just indicates the point at which the program can no longer be funded by current revenue rates or reserves. It has often been used by opponents of traditional Medicare like Paul Ryan to say Medicare is “going broke,” justifying cuts or dramatic changes to the program.
But this date has invariably been pushed into the future.
“Thanks to the Affordable Care Act, we are taking important steps to improve the delivery of care for seniors with Medicare,” said Marilyn Tavenner, Administrator of the Centers for Medicare and Medicaid Services. “These reforms aim to reduce spending while improving the quality of care, and are an important down payment on solving Medicare’s long term financial issues.”
Copyright 2013 The National Memo