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In 2018, Medicare covered 59.9 million people: 51.2 million aged 65
and older, and 8.8 million disabled. About 36 percent of these
beneficiaries have chosen to enroll in Part C private health plans that
contract with Medicare to provide Part A and Part B health services.
Total expenditures in 2018 were $740.6 billion, and total income was
$755.7 billion, which consisted of $745.9 billion in non-interest income
and $9.8 billion in interest earnings. Assets held in special issue U.S.
Treasury securities increased by $15.1 billion to $304.7 billion.


Short-Range Results

The estimated depletion date for the HI trust fund is 2026, the same
as in last years report. As in past years, the Trustees have determined
that the fund is not adequately financed over the next 10 years. HI
income is projected to be lower than last years estimates due to lower
payroll taxes and lower income from the taxation of Social Security
benefits. HI expenditures are projected to be slightly higher than last
years estimates because of higher-than-projected 2018 spending and
higher projected provider payment updates, factors that are mostly
offset by the effect of lower assumed utilization of skilled nursing
facility services.


The Trustees are issuing a determination of projected excess general
revenue Medicare funding in this report because the difference between
Medicares total outlays and its dedicated financing sources6 is
projected to exceed 45 percent of outlays within 7 years. Since this
determination was made last year as well, this years determination
triggers a Medicare funding warning, which (i) requires the President
to submit to Congress proposed legislation to respond to the warning
within 15 days after the submission of the Fiscal Year 2021 Budget and
(ii) requires Congress to consider the legislation on an expedited basis.
This is the third consecutive year that a determination of excess
general revenue Medicare funding has been issued, and the second
consecutive year that a Medicare funding warning has been issued