Approximately 67.5 million people depend on Medicare Part A in the United States, which provides patients with essential hospital insurance coverage. Part A typically covers inpatient hospital stays, skilled nursing facility care, hospice, and some post-acute home health care. Like Social Security, Medicare’s Part A Trust Fund is facing shortfalls. Recent reports project that Medicare’s Part A Trust Fund could start to run short in 2033, meaning it will be unable to cover 100% of its obligations by that time. That’s less than seven years away, and both Medicare recipients and soon-to-be retirees are wondering how it will impact their long-term retirement planning. While Medicare isn’t going to disappear, here are six costs seniors should keep a close eye on.
