Medicare insolvency comes 3 years sooner

The weak economy is straining the long-term finances of the Medicare program, which is the lifeblood for hospital operations. According to the annual report issued by the federal government, the combined Social Security and Medicare Medicare trust funds are expected to be exhausted by 2033, three years earlier than projected in 2011, reported CBS News. Medicare covers about 50 million Americans, but is expected to grow dramatically in the coming years with the aging of the baby boomer generation. Article

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