REGNIER, PAT; Gengler, Amanda
October 2011
Money;Oct2011, Vol. 40 Issue 9, p106
The cover story article reports on the financial health of Medicare, the federal health insurance program for seniors and disabled Americans, and various reform proposals for Medicare. At issue is the growing and unsustainable cost of Medicare spending. The article explains that taxes generate only about 18 percent of the gross domestic product, and by 2030 the cost of maintaining Medicare's 2011 level of benefits would push government spending to 24 percent of the economy. The article warns that although both major political parties have offered reform plans, there is no easy solution for Medicare reform. It also warns that cuts to benefits for people younger than 65 are inevitable, as are rising premiums for all people on part B of Medicare.


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