Post by bot on Jul 31, 2015 20:21:12 GMT -5
Hoyer Statement on Social Security and Medicare Trustees Reports
WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) released the following statement today after the release of the Social Security and Medicare Boards of Trustees reports:
“Today’s Social Security and Medicare Trustees reports offer mixed news. On the one hand, Medicare’s Trustees reaffirm that the Affordable Care Act is improving the program’s long-term sustainability. Their report shows that the Medicare trust fund will remain solvent until 2030, thirteen years longer than had been projected in 2009 before health care reform was enacted. Historically low rates of growth in cost per-beneficiary in recent years reflect the success of delivery and payment system reforms in the law that are containing costs while improving health care quality. Next year, it is expected that seven out of ten beneficiaries will see no increase in their premiums. Instead of trying relentlessly and irresponsibly to repeal the Affordable Care Act, Republicans should work with Democrats to make sure that Medicare is protected for the next generation.
“At the same time, Social Security’s Trustees present both short and long-term challenges. Sometime next year, Social Security’s Disability Insurance’s funding shortfall will completely deplete its trust fund, threatening a benefit cliff for some of the most vulnerable Americans, should Congress fail to act. It is important to note that Social Security’s total available resources – the combined disability and retirement trust funds – remain solvent through 2034, an improvement of one year since the last Trustees Report, offering Congress flexibility to prevent disability cuts in 2016. In the long run, however, Social Security’s finances will continue to deteriorate. The sooner Congress acts to shore up Social Security solvency, the less likely it will be that the most vulnerable will bear the burden – and the better off future generations will be.
“Congress must not abandon the promise it made to care for our seniors and the most vulnerable in our society through Medicare and Social Security – a promise House Democrats will continue to defend.”