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The New Financial Outlook for Social Security and Medicare

Here's how to make sense of the latest solvency projections for these federal programs

By Bob Rosenblatt
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Translation of the Medicare Trustees Report: Medicare is going to cost a lot more, and we have no idea how much.

And, as the report puts it: “While most technological advances to date have tended to increase costs, the health care landscape is shifting. No one knows whether these future developments will, on balance, increase or decrease costs.”
 

Given all the uncertainties about Medicare, not to mention the political landmines that come with tweaking the program, don’t expect Congress to deal with Medicare’s solvency issues in a major way until we’re much closer to 2024, when the hospital trust fund is projected to run out.

Bob Rosenblatt is a writer and editor specializing in aging issues. His blog, Help With Aging, focuses on the finances of aging. He was a Washington correspondent for The Los Angeles Times for 26 years. Read More
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