The media continue to insist that the presidential candidates have a plan to keep Social Security fully funded past the years when it is first projected to face a shortfall (2041 according to the trustees, 2046 according to the non-partisan Congressional Budget Office [CBO]). Given this obsession, it is surprising that the NYT can write an article discussing insurers role in the Medicare Advantage program without ever once mentioning Medicare's projected shortfall.
While CBO projects that SS will be fully solvent for almost three decades after the latest date that the next president can leave office, Medicare is first projected to run short of money in 2019. The Medicare Advantage program contributes to this shortfall since it raises costs by an average of 12 percent for the beneficiaries enrolled. Of course this extra cost means profits for the insurance industry.
There's too much at stake this November for us to quit. As we navigate another presidential election year, thoughtful independent journalism is more important than ever. We're committed to bringing you the latest news on what's really happening across the country this election season, shining a light on the stories corporate media overlooks and keeping the public informed about how power really works in America.
Quality reporting doesn't come for free, and we don't have corporate backers to rely on to fund our work. Everything we do is thanks to our incredible community of readers, who chip in a few dollars at a time to make what we do possible. Any amount you give today will help sustain this crucial work.