Broke or broken, in 2012 Medicare continued to operate on a deficit. A $27.7 billion deficit! That is greater than the budget deficit of Greece ($25.7 billion) that caused their nationwide financial challenges in recent history. Regardless of this, the Medicare trustees issued their annual report on April 23, 2012 and report that the public health insurance program will not completely run out of funding until 2024. Similar to 2011’s report, the CMS’ Chief Actuary issued an post-report statement that pointed out the 12 years of solvency are predicated on Congress moving to cut provider reimbursements in 2013.
In my opinion, they could not cut provider reimbursements much more and leave us with a program that provides access to quality care. What good is health insurance if you cannot access providers?
Call Mika at (408) 395-3303 or email here.