Will Medicare be around in 30 years?

Yes, Medicare will still be around in 30 years, but it will likely need significant changes, as its trust funds face shortfalls, with projections suggesting the Hospital Insurance (Part A) fund could cover less than full benefits around 2033-2036, meaning Congress will need to raise revenues (taxes) or cut costs (benefits/spending) to keep it fully solvent, though the program will continue operating with incoming funds.

Will Medicare be around forever?

Yes, Original Medicare (Parts A & B) and most private Medicare Advantage (C) & Drug (D) plans automatically renew each year if you keep paying premiums and like the plan, but you should still review for changes during the October 15 - December 7 Annual Enrollment Period (AEP) to ensure it fits your needs for the next year, as plan details can change, notes Humana, UnitedHealthcare, and Aetna. 

What does Dave Ramsey say about Medicare?

Dave Ramsey's Medicare advice centers on planning ahead, understanding enrollment periods to avoid penalties, using Health Savings Accounts (HSAs) if possible, and supplementing Original Medicare with Medigap or Medicare Advantage (Part C) to cover gaps like dental, vision, and long-term care, stressing that mistakes can be costly and recommending expert advice for personalized choices. 

Will Medicare end in 2036?

Last year's report set the go-broke date for Medicare's hospital insurance trust fund as 2036. But the latest report pushed up that date to 2033. Medicare is a federal health insurance program that offers coverage for people 65 and older, as well as people with certain disabilities.

Is Medicare expected to grow in the future?

Over the next 15 years, Medicare's enrollment is projected to increase almost 50 percent— rising from 54 million beneficiaries today to more than 80 million beneficiaries in 2030.

When Is The Best Time To Start Collecting Social Security? - Dave Ramsey Rant

Does everyone have to pay $170 a month for Medicare?

If you don't get premium-free Part A, you pay up to $565 each month. If you don't buy Part A when you're first eligible for Medicare (usually when you turn 65), you might pay a penalty. Most people pay the standard Part B monthly premium amount ($202.90 in 2026).

What will happen with Medicare in 2026?

Medicare changes for 2026 include higher Part B premiums and deductibles, but also lower average MA/Part D premiums, a new $2,100 cap on Part D drug costs, automatic enrollment in the Prescription Payment Plan, stricter rules on non-health MA extras, and AI-driven prior authorization tests to speed up care approvals. These updates aim to control drug spending and improve care coordination while adjusting for inflation. 

Will social security exist in 30 years?

Yes, Social Security will almost certainly still exist in 30 years, but it faces long-term funding shortfalls that will require congressional action to prevent benefit cuts, meaning future retirees might receive a smaller percentage of their expected benefits unless changes like raising the retirement age or increasing taxes are made. The trust funds are projected to run out in the mid-2030s (around 2033-2034), after which ongoing payroll taxes would only cover about 76-81% of scheduled benefits, not 0%. 

How much social security will you get if you make $60,000 a year?

If you consistently earn around $60,000 annually over your career, you can expect a monthly Social Security benefit of roughly $2,100 to $2,300 at your full retirement age (FRA), but the exact amount varies by your birth year and claiming age; for instance, at FRA, it's around $2,311 based on 2025 bend points, while claiming at 62 yields less and claiming at 70 yields more, with an official estimate available on the Social Security Administration (SSA) website. 

Why are doctors dropping Medicare patients?

Physician Medicare reimbursement dropped 33% since 2000, when adjusted for inflation, according to the AMA. As a result, Ferguson said, many practices—particularly small, independent ones—can no longer afford to absorb the losses. "It's gotten to a point where you can't absorb it.

Do wealthy people go on Medicare?

Yes, rich people get Medicare because eligibility is based on age (65+) or disability, not income, but they pay significantly higher premiums (Income-Related Monthly Adjustment Amounts, or IRMAA) for Parts B & D based on their tax returns, effectively making it a tiered system where wealth means higher costs for the same basic federal insurance. While eligibility isn't restricted by wealth, planning is crucial for high-income individuals to manage these increased costs, as Medicare doesn't cover everything and supplementary plans are often needed. 

What did Suze Orman say about social security?

Dave Ramsey suggests claiming Social Security at 62 and investing the money. Suze Orman advises waiting as long as possible and ideally until 70 to claim benefits. Orman's advice is more likely to be the right move for most seniors.

What did Ronald Reagan say about Medicare?

In this ten-minute recording, Reagan "criticized Social Security for supplanting private savings and warned that subsidized medicine would curtail Americans' freedom" and that "pretty soon your son won't decide when he's in school, where he will go or what he will do for a living.

Is it better to go on Medicare or stay on private insurance?

Neither Medicare nor private insurance is universally "better"; the best choice depends on individual needs, but Medicare often offers lower overall costs and simplicity for seniors, while private insurance excels in covering dependents and potentially offering more choice with networks/out-of-pocket caps, though at higher premiums. Medicare boasts lower admin costs and standardized coverage, but Original Medicare lacks an out-of-pocket maximum, a feature typically found in private plans and Medicare Advantage (Part C). 

Is Medicare changing in 2025 for seniors?

In 2025, the biggest Medicare changes for seniors focus on Prescription Drug coverage (Part D) with a new $2,000 annual out-of-pocket cap, eliminating the "donut hole," allowing monthly payments for drug costs, and introducing price negotiations, while Medicare Advantage plans face potential benefit adjustments, and Part B premiums and deductibles will increase. Expect some MA plans to reduce extra perks to offset new drug costs, plus updates to telehealth and integrated care options. 

Is Medicare in financial trouble?

Medicare's long-term financial outlook is in dire straits. While spending is already historically high, the Congressional Budget Office (CBO) projects that, without fundamental reform, things will only get worse. According to the CBO, total government spending will grow from 23.3% of GDP in 2025 to 26.6% in 2055.

How much do you have to make to get $3,000 a month in Social Security?

To get around $3,000/month in Social Security, you generally need a high earning history, around $100,000-$108,000+ annually over your top 35 years, but waiting to claim until age 70 maximizes this amount, potentially reaching it with lower yearly earnings, say under $70k if you wait long enough, as benefits are based on your highest indexed earnings over 35 years. The exact amount depends heavily on your specific earnings history and the age you start collecting benefits. 

How many Americans have $500,000 in retirement savings?

Only a small percentage of Americans have $500,000 or more in retirement savings, with recent data (late 2025/early 2026) suggesting around 7% to 9% of households have reached this milestone, though this varies by source and can be skewed by high-income earners or home equity. For instance, one study showed only 4% of all households had $500k-$999k, and 3.1% had $1M+. 

Can I retire at 62 with $400,000 in 401k?

You can retire at 62 with $400k if you can live off $30,200 annually, not including Social Security Benefits, which you are eligible for now or later.

What is the highest Social Security check anyone can get?

The maximum Social Security benefit varies by retirement age, with the highest possible monthly amount in 2026 being around $5,181 if you wait until age 70, while claiming at Full Retirement Age (FRA) yields about $4,152, and claiming at age 62 results in approximately $2,969. To get the maximum, you must have earned the taxable maximum for at least 35 years, had significant earnings above the annual wage base ($184,500 in 2026), and delayed claiming benefits past your FRA. 

Is full retirement age changing in 2025?

In November 2025, the full retirement age (FRA) — the age at which individuals qualify to receive 100% of their Social Security benefits — will increase to 66 years and 10 months for those born in 1959. FRA gradually rises month by month, so in November 2025, those born in January 1959 reach FRA.

Will millennials ever get Social Security?

Although it is expected that benefits will be lower, Social Security will continue to play a role in Millennial budgets. Depending on income and chosen claim age, benefits may cover 20% to 60% of income needs (based on an 80% income replacement ratio) in year one of retirement.

Who qualifies for an extra $144 added to their social security?

You qualify for an extra ~$144 on your Social Security check if you have a Medicare Advantage (Part C) plan with a "Part B Giveback" benefit, which refunds some or all of your Medicare Part B premium, appearing as extra cash in your check, but eligibility depends on living in the plan's service area and paying your own Part B premiums. The "144" figure was common when the Part B premium was around that amount, but the actual refund varies by plan and location, potentially exceeding the full premium. 

Is Medicare getting rid of the donut hole in 2025?

Next, check the pharmacy benefit for your plan to see what you will have to pay for each covered drug. Third, know that in 2025, the coverage gap (also called the “donut hole”) is going away and you will not have to pay anything for your covered drugs once you have paid $2,000 in out-of-pocket costs.

How much will Medicare premiums cost in 2025?

The standard monthly premium for Medicare Part B enrollees will be $185.00 for 2025, an increase of $10.30 from $174.70 in 2024. The annual deductible for all Medicare Part B beneficiaries will be $257 in 2025, an increase of $17 from the annual deductible of $240 in 2024.