Five Ways To Fund Medicare Part A | Old North State Wealth News
Connect with us

Retirement

Five Ways to Fund Medicare Part A

Published

on

Getting the right tax advice and tips is vital in the complex tax world we live in. The Kiplinger Tax Letter helps you stay right on the money with the latest news and forecasts, with insight from our highly experienced team (Get a free issue of The Kiplinger Tax Letter or subscribe). You can only get the full array of advice by subscribing to the Tax Letter, but we will regularly feature snippets from it online, and here is one of those samples…

There’s decent news on the Medicare front. Notably, the Hospital Insurance Trust Fund (HITF) that’s used to pay Medicare Part A benefits for recipients. The HITF is expected to be solvent for longer. According to current projections from Medicare trustees, the HITF would be able to fully pay scheduled benefits until 2036, five years later than last year’s forecast. That’s because federal payroll taxes fund the HITF, and the number of covered workers who pay the taxes, and their average wages, are forecasted to be higher. The HITF is mainly funded by Medicare taxes. And currently, there are three Medicare taxes: 

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here



Read the full article here

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Trending

Copyright © 2024 ONSWM News. Content posted on the Old North State Wealth News page was developed and produced by a third party news aggregation service. Old North State Wealth Management is not affiliated with the news aggregation service. The information presented is believed to be current. It should not be viewed as personalized investment advice. All expressions of opinion reflect the judgment of the authors on the date the articles were published. The information presented is not an offer to buy or sell, or a solicitation of any offer to buy or sell, any of the securities discussed.