Frightening Medicare Stats...

The Medicare Hospital Insurance Trust Fund, which pays for Medicare Part A, is now projected to be exhausted in 8 years, sometime during 2017.

It has been estimated that the typical older couple may need to save $300,000 to pay for health care costs not covered by Medicare alone.

The average Part B plus Part D premium is estimated to equal about 12% of the average Social Security benefit in 2010, and 16% of the average benefit in 2025.

Taken together, this means that if no action is taken, Medicare premiums and cost-sharing could eat up more than 33% of Social Security benefits in the next 15 years.

A typical older couple in traditional Medicare will pay almost $90 next year on average to subsidize private insurance companies who are not providing their health benefits.

Source: HealthReform.gov