The next President will likely inherit a ZERO HI Trust Fund; Expected exhaustion date closer to 2024

Not entirely. It is all just a matter of accounting. What the OP says is that we don't collect enough payroll tax to cover it.

 

Whatever the name of it is, and whoever did it, my point stands. And the program actually predates Trump. And it's just one tiny example of why Medicare and SS are in jeopardy.

 

In other words, you don't know why the HI Trust Fund will be depleted before 2026.

 

Why would you assume that? Expenses exceed revenues. It's not rocket science. But, Congress will keep wasting billions and billions it could use to shore up services for Americans.

 

Here's HI's Receipts/Expenditures historical CROSS POINT.......End of 2017

Note; HI's 2017 semi-annual interest payments (total $7 billion), haven't increased theTrust Fund Assets, and said $7 billion was PUBLICLY BORROWED, and paid as benefits.

Note: An Exausted Trust Fund means that all its non-marketable assets were swapped to marketable/public debt, and in the long run/''ON PAPER'', the cumulative public interest payments on said swapping will eventually erode total contributions.

 

Question; Why HI expenses exceeded revenues?

Answer; It has nothing to do with Uncle Sam wasting money

Let's assume you're the owner of XYZ Property Insurance Co., Louisiana, USA.

As a general rule, ''Premiums increase when Costs increase'', however, what factors determine Premium rates?

Well, a whole lot of factors/variables, and in reference to our Hospital Insurance Program, here's one important ''Rate Determining Factor'' Uncle Sam has neglected; The growing fiscal demand of our boomers.

 

Yes it does. We all pay taxes. Government should prioritize our tax money on our own programs, not women's studies in Pakistan or scientific studies about the affects of cocaine on chimpanzees. Thanks.

Which is reason #1,350,304 why government should not nationalize health insurance.

 

I already covered that in #17.

 

Here's HI's Receipts/Expenditures historical CROSS POINT.......End of 2017

Note; HI's 2017 semi-annual interest payments (total $7 billion), haven't increased theTrust Fund Assets, and said $7 billion was PUBLICLY BORROWED, and paid as benefits.

Note: An Exausted Trust Fund means that all its non-marketable assets were swapped to marketable/public debt, and in the long run/''ON PAPER'', the cumulative public interest payments on said swapping will eventually erode total contributions.




NOTE: Less than 5% of Seniors have kept their employer-sponsored health care plan, thus, 95% are relying on Medicare.

 

Relying on? You damn betcha we are. I paid Medicare taxes for decades. When I turned 65, I was still working. Medicare plus my supplement at that time (2017) cost me about $600 per month less that what I was getting through my employer, so yeah, I jumped at it.

 

For your info;

2008 Total Hospital Expenditures; $690 Billion

2019 Total Hospital Expenditures; $1.161 Trillion

A total increase of 68%

https://www.aha.org/statistics/fast-facts-us-hospitals
https://www.statista.com/statistics/459769/total-hospital-expenditures-in-the-us/

FY2008 HI Paid Benefits; $223 Billion
FY2019 HI Paid Benefits; $323 Billion

An increase of 45%

https://fiscal.treasury.gov/files/reports-statements/mts/mts0908.pdf
https://fiscal.treasury.gov/files/reports-statements/mts/mts0919.pdf

THUS, should we blame ''Government-run'' for keeping their cost down?