A critical analysis of the effectiveness of Medicare finds that Medicare has failed to perform adequately for several years and its performance in the 2009 fiscal year was not satisfactory. Not only have they not taken any steps to curtail the projected deficit. Since 2004 the costs of the Medicare program have exceeded income from payroll tax revenue forcing the program to rely on interest earnings to help pay benefits.
Furthermore immediate action needs to be taken to insure that the Health Insurance Trust Fund which is on it way to depletion in 2017 is preserved. As the reliance of Medicare on GDP grows it is predicted that social security costs will grow along with it. This is because after 2010 the number of people receiving benefits through Medicare and social security will sharply increase. It is expected that the part B premiums will increase in the ensuing years as beneficiaries will have to pay more due to ever increasing health costs. However, by law since the Part B premium cannot exceed the cost of living adjustment provided by social security.
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