KFF May 29, 2024
Key Takeaways
- Funding for Medicare, which totaled $1 trillion in 2023, comes primarily from general revenues (government contributions), payroll tax revenues paid by employers and workers, and premiums paid by beneficiaries.
- Based on current projections from the Medicare Board of Trustees’ 2024 report, the Medicare Part A (Hospital Insurance, or HI) trust fund is projected to be depleted in 2036, 12 years from now – an improvement of five years compared to the projected depletion date of 2031 in the previous report due to higher expected revenues and lower projected spending. To date, lawmakers have never allowed the HI trust fund to be fully depleted.
- Total Part A spending is projected to exceed revenues beginning in 2030, which means...
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