Huffpost Politics

Fact Of The Day #66: An Increasingly Strained Medicare Trust Fund (VIDEO)

Posted: Updated:

Chances are you see money deducted from every paycheck to fund Medicare. But while the bite may seem big, payroll taxes cover less than 40 percent of program costs. They've never paid for more than 68 percent of Medicare costs - that was in 1980 - and their share of Medicare revenue has been declining steadily for 30 years. In 2011 worker contributions brought in 38.1 percent of Medicare funding. The rest came from contributions from general federal revenues and premium payments.

All monies go into a trust fund which Medicare's own trustees predict will run dry in 2024. Play and share today's special video on the Medicare money problem, then join the discussion below. Does today's fact make you think differently about Medicare?

Face the Facts USA is a project of The George Washington University's School of Media and Public Affairs. Would you like the "Fact of the Day" beamed straight to your email inbox? Sign up here. For more fun stuff, follow them on Twitter @FaceFactsUSA, or like them on Facebook.

Also on HuffPost:

Close
Economic Predictions That Were Blatantly Wrong (Or Have Blatantly Yet To Come True)
of
Share
Tweet
Advertisement
Share this
close
Current Slide

Suggest a correction

Around the Web

Letter: GOP line about money 'taken' from Medicare is utter baloney

Preserving Medicare is a main concern for some California voters

Face the Facts USA: Payroll deductions covering less of Medicare

Medicare Trustees See Rapidly Approaching Insolvency

To Save Medicare, Free It From Its Captors

Register To Vote