2018 Medicare Trustee Report released; Part A would be depleted in 2026

The Boards of Trustees of the Federal Hospital Insurance (HI) (Medicare Part A) and the Federal Supplementary Medical Insurance (SMI) (Medicare Part B) Trust Funds have issued their 2018 Annual Report. The Social Security Act requires that the Board, among other duties, report annually to the Congress on the financial and actuarial status of the HI and SMI trust funds. In 2017, Medicare covered 58.4 million people and its total expenditures were $710.2 billion. The estimated depletion date for the HI trust fund (Medicare Part A) is 2026, 3 years earlier than in last year’s report. The SMI trust fund is expected to be adequately financed over the next 10 years and beyond because premium income and general revenue income for Parts B and D are reset each year to cover expected costs and ensure a reserve for Part B contingencies. For more details, see today’s Financial Feature.

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