Concord Action statement on the 60th anniversary of Medicare

On the 60th anniversary of Medicare, Carolyn Bourdeaux, Executive Director of Concord Action, released the following statement:

“Medicare has been a game-changing program helping seniors and people with disabilities access healthcare for 60 years now, but it is facing serious financial challenges that must be addressed soon. The latest projections from the Medicare Trustees estimate that the Hospital Insurance trust fund (HI), which covers inpatient services such as hospital stays, will be insolvent in 2033, forcing a sudden cut to providers of 11 percent and jeopardizing access to healthcare. Meanwhile, general revenue transfers to Medicare’s Supplemental Medical Insurance trust fund (SMI), which covers outpatient physician services and prescription drugs, are putting a rapidly growing strain on our already tapped out federal budget. If Medicare is going to continue its vital function in American society, President Trump and Congress must confront these financial challenges and the sooner the better.”