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2019 Medicare Board of Trustees Annual Report

May 20, 2019

Annual trustee report as required by the Social Security Act on the financial status of the Hospital Insurance Trust Fun and the Supplementary Medical Insurance Trust Fund.

Report finds that Medicare's assets will be depleted by 2021.  The 243 page report finds that in 2018, Medicare Part A expenditures exceeded income by $1.6 billion and that the trust fund will become insolvent in 2026. The Trustees’ Annual Report says without legislation to address the revenue shortfall, the trust fund assets will cover expenditures only until 2026. To illustrate how serious the deficit is, the Annual Report on page 28 states that to remain solvent during the 75-year period the Trustees use to project solvency, the standard 2.90 percent payroll tax would have to be increased immediately to 3.81 percent.