The Medicare HI Trust Fund is primarily funded by a payroll tax, and is currently projected to be depleted in 2028. The letter details an estimate from CMS’s independent Chief Actuary, who is responsible for overseeing the finances of Medicare and Medicaid. Americans deserve better when it comes to Medicare’s guarantee of health benefits. Raiding Medicare like this will create an unnecessary crisis that threatens the health care of tens of millions of seniors who count on the program. “In addition to the bill’s many other harmful provisions, it gives a tax break to the wealthy and steals directly from Medicare’s coffers. “This bill breaks a clear Trump promise not to harm Medicare,” Wyden said. The letter comes as House Republicans plan to move a bill through the Ways and Means Committee that includes that policy. WASHINGTON – Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today released a Januletter from former Acting Administrator for the Centers for Medicare & Medicaid Services (CMS) Andy Slavitt detailing that the repeal of the additional 0.9 percent payroll tax on high income earners will reduce the solvency of the Medicare Hospital Insurance (HI) Trust Fund by three years. CNN.Taylor Harvey (202) 224-4515 Republican Repeal Bill Threatens Medicare Solvency to Cut Taxes for Wealthy Letter from former CMS Administrator Slavitt Reports Independent Actuary Estimate that Wealthy Payroll Tax Cut Would Reduce Medicare Solvency from 2028 to 2025 Source: Ex-Obama official who helped fix botched rollout to join Biden’s Covid-19 team – By MJ Lee and Jessica Dean, January 15, 2021.
ANDY SLAVITT CMS FULL
A source familiar added that Slavitt will also engage medical providers, pharmacies and other major players as the new Biden administration works to vaccinate the American population as quickly as possible…” Read the full article here. “Working hand-in-hand with Zients, Slavitt is expected to focus in part on messaging around Covid and vaccine distribution - a challenge that incoming Biden officials have described as unprecedented - including trying to build up public trust about the vaccine. There’s no existing infrastructure on vaccine distribution, so we’ll have to start from Day One…’” What we’re inheriting from the Trump administration is much worse than what we could have imagined. ‘The reason we need to pull out all the stops is that this program is really not on track. “‘He’s totally battle-tested and I think he’ll be invaluable in helping to deliver a clear and consistent message to the American people,’ Zients said. “In an interview, Zients said the decision to add Slavitt to the team was a clear sign that the incoming administration was ‘pulling out all the stops’ to get Covid under control.” That effort to fix the Obamacare enrollment website was spearheaded by Jeff Zients, who is now Biden’s Covid coordinator…”
“Notably, prior to being named acting head of the Centers for Medicare and Medicaid Services, Slavitt had been brought on to help the Obama administration fix the botched rollout of its website. The expected hire underscores the all-hands-on-deck approach the Biden team appears to be taking when it comes to the coronavirus, as it looks to meet its goal of administering 100 million vaccine shots during Biden’s first 100 days in office.” “Slavitt’s role is expected to be temporary, sources said, as the incoming Biden administration is days away from inheriting the daunting task of getting the spread of Covid under control and quickly vaccinating the country. “Andy Slavitt, the former acting chief of Medicare and Medicaid under the Obama administration, is expected to join President-elect Joe Biden’s Covid-19 team in a senior advisory role, CNN has learned.”
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