Will Medicare go broke?
Did you know that Medicare is projected by some to be broke by 2026? Let’s see why this is happening. Recently, a patient went to an area medical facility for a half-hour recall appointment. For this short visit, Medicare was billed a total of $1,570.
Medicare approved almost $290 for this half-hour appointment and actually paid $195, with the difference being paid by the patient’s Medigap insurance company. This is the reason why Medicare is going broke and why health care insurance rates are increasing so much.