Trump’s free $200 prescription card is ‘a bad idea from A-Z’: Former Bush official – By Ben Werschkul (Yahoo! Finance) / Oct 12 2020
Medicare’s main trust fund, the Hospital Insurance (HI) fund – also known as Part A of Medicare – was already in financial trouble before the pandemic hit.
Now the ongoing recession is squeezing the program from both ends. And a recent Trump administration plan to send $200 Medicare cards to seniors has made the program’s financial picture even murkier.
A recent projection from James Capretta, a senior advisor at the Bipartisan Policy Center and a resident scholar at the American Enterprise Institute, found that the program could run low on funds by 2023.
In other words, the next president – be it Joe Biden or President Trump in a second term – will “have about two years to figure out what to do,” Capretta said in an interview with Yahoo Finance.
Capretta studies health care, entitlement programs, and budget policy, and also served as an associate director at the White House’s Office of Management and Budget during the George W. Bush administration.
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