Statement from the Bipartisan Policy Center Expert Panel on the Future of Health Care
Today, the ex officio trustees of the Social Security and Medicare trust funds released the 2017 annual reports on the financial conditions of the two programs. The trustees’ projections remain ominous for the financial future of the programs, with serious implications for millions of current and future program beneficiaries as well as taxpaying workers.
The trustees for Social Security and Medicare today released their annual reports, providing an update on the financial conditions of the programs’ trust funds. The reports highlight the significant financial challenges that each program continues to face.
The Bipartisan Policy Center has proposed a series of reforms aimed at helping families finance long-term care for themselves and their loved ones.
BPC has narrowed its projection window for the debt limit “X Date,” when the federal government would not be able to pay all its bills in full and on time, to early to mid-October. This projection parallels the one released recently by the Congressional Budget Office, which reached a similar conclusion.
BPC submits comments to the Centers for Medicare and Medicaid Services’on changes to Patient Protection and Affordable Care Act (PPACA) regulations that could promote increased stability of the individual health insurance market and affordability of coverage.
Recent analyses suggest that roughly 52 percent of individuals turning age 65 will require long-term services and supports at some point in their life. In this final report, BPC offers recommendations to improve the financing of long-term services and supports.
It is difficult to imagine any bipartisan solution that will not require some balance of increased taxes and, at least for some, moderation of benefit growth.
In total, the federal government spent nearly $1.5 trillion on Social Security and Medicare in 2016, and their current and future financial status is of the utmost importance.
It has helped immeasurably that the two public trustees have generally striven to operate as a bipartisan team, rather than dividing to offer competing partisan perspectives.