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Medicare Spending to Exceed $1 Trillion in 2024

Created on July 30, 2015

Medicare Spending to Exceed $1 Trillion in 2024

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Read the original report, "Medicare at 50: Reform Will Better Serve Seniors’ Health Care Needs," by Robert E. Moffit.

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Medicare spending is projected to increase from $613 billion in 2014 to well over $1 trillion in the next nine years. By 2040, taxpayers will fund 61 percent of Medicare costs out of general revenues and just 22 percent of revenue from the payroll tax.

Note: Some figures have been interpolated. Source: Centers for Medicare and Medicaid Services, "2015 Annual Report of the Boards of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds,” http://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/ ReportsTrustFunds/Downloads/TR2015.pdf, Tables III.B4, p. 54; III.C4, p. 86; III.D3, p. 105; and V.B1, p. 178 (accessed July 24, 2015).

CHART 1 • IB 4448

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