A trustees report spells trouble for Bernie’s misguided Medicare expansion
could be crowded outMedicare Part A, which covers hospital services, is supposed to be primarily funded by payroll taxes. Past surpluses are tracked through the Hospital Insurance Trust Fund, which can be used to cover deficits during years in which spending exceeds revenue. But spending is growing faster than revenues, and according to the trustees, the HI trust fund will be exhausted in just five years. At that point, benefits will be cut by 9% .
The situation facing Medicare Parts B and D, which cover physician services and prescription drug benefits, is. These benefits are financed through the Supplemental Medical Insurance Trust Fund, which cannot be exhausted because general revenues are automatically transferred to cover the gap between program spending and dedicated revenues from premiums and other fees.
Instead of finding ways to close Medicare’s growing shortfall and secure the program’s future, Sanders is proposing to make the problem worse by expanding coverage to include vision, hearing, and dental benefits at no additional cost to beneficiaries, which would cost taxpayers
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