Medicare will begin to run out of money in five years. Image: Getty Crunch time for Medicare is just five years away, according to the latest annual report from the trustees who oversee the program. The trustees say the popular health care program for seniors will begin to run short of money in 2026, the same doom date as in last year’s report. The COVID pandemic and its effect on the economy represent an “unprecedented level of uncertainty,” however, and the funding shortfall could arrive… Source link
Read More »Medicare is not free, so start doing this now
Suze Orman: Medicare is not free, so start doing this now If you’re counting the days until you turn 65 and won’t have to pay those brutal health insurance premiums anymore, Suze Orman has a harsh reminder for you. Medicare is far from free. “I want you to be clear-eyed about how much health care will cost you in retirement,” the money maven recently wrote on her blog, pointing to a government report that puts the average out-of-pocket costs for seniors at $6,800 a year. All of a sudden… Source link
Read More »New proposal to lower Medicare age to 50 could be a lifeline to millions
New proposal to lower Medicare age to 50 could be a lifeline to millions A group of 21 Democratic senators have reintroduced legislation in Congress to lower the qualifying age for Medicare from 65 to 50. “When it comes to providing affordable health care for every American, there is more we must do right now to change the status quo, improve our health care system and lower costs,” said Sen. Tammy Baldwin, a Democrat from Wisconsin and one of the cosponsors of the bill. Baldwin added that… Source link
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