And Medicare/Medicaid untouchable. They're not bankrupt or anywhere near it.
Though Paul Ryan claimed that Medicaid is “going bankrupt” it’s been proven that this is false.
First of all There are 4 Parts to Medicaid
1.Part A (hospital insurance)
2.Part B (medical insurance)
3.Part C (Medicare advantage)
4.Part D (prescription drug plans)
The part that is supposedly going “bankrupt” (according to Paul Ryan) is part A only!
Moreover, though the fund would be “depleted,” it would NOT be “penniless” or “broke.” That is because the government could still cover 87 percent of estimated expenses in 2024 — and 67 percent in 2050. So, yes, there would be a shortfall, but it doesn’t mean that the fund is bankrupt.
There are various ways that Congress could deal with this problem. Already, in the Obama health care law, a surtax was added that would hit wealthy Americans, which extended the “insolvency” date by 12 years. . (This is why Biden can claim that repeal of the health care law would make Medicare go “bankrupt” sooner.) Congress has also moved some functions from Part A to Part B to extend the life of the fund, in which was basically a book-keeping maneuver.
To read more on facts about Medicaids “bankruptcy” go here
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