The Hospital Insurance Trust Fund, which pays for hospital services such as inpatient care, is projected to run out of money in 2028, according to the latest report from the Medicare Trustees, Fierce Healthcare reports.
The report projects the hospital fund will run out two years later compared to the 2021 report. It also estimated that Medicare costs will grow faster than the gross domestic product through the late 2070s.
“At this time, there is no consensus among experts on the lasting effects of the COVID-19 pandemic,” a fact sheet on the report said. “We currently assume that the pandemic will have no net effect on our long-range projections.”
Deficits for the hospital trust fund are projected to exceed expenses starting again in 2023 and will continue until the depletion of the fund in 2028. Read more.
