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September 30, 2016
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Gibson leads Schreibman in poll; medicare is a big issue

Chris Gibson

Gibson did not respond to a request for a comment, but a statement on his website says, “Chris will not vote for any legislation that cuts benefits to current recipients of Medicare or Social Security, and will only vote for a bill that makes certain these programs are stronger in the future.
With Medicare projected to be bankrupt within a decade, keeping the status quo ends Medicare.”

According to the Center on Budget and Policy Priorities, only part of Medicare will face bankruptcy if lawmakers do not alter the funding formulas, and that will happen in 2024 to Medicare’s Health Insurance Trust Fund. After 2024, the trust fund will be able to pay 87% of the costs that will likely be incurred.

The Center says “The 2024 date does not apply to Medicare coverage for physician and outpatient costs or to the Medicare prescription drug benefit; these parts of Medicare do not face insolvency and cannot run short of funds … because revenue contributions are specifically set at levels to assure this is the case”