Medicare to go broke by 2018

Medicare's Financial Outlook: Time to Reevaluate Your Retirement Plan

The Centers for Medicare & Medicaid Services (CMS) released its annual Medicare Trustees Report, which shows Medicare's financial outlook declined compared to last year's estimate. The report predicts the trust fund for Medicare will run out of money in 2018—two years sooner than predicted a year ago.

This makes a physician's own personal retirement planning even more critical. How is your current retirement planning program going? Have you even started one yet? I suggest contacting your financial advisor to review and discuss your current retirement planning processes. I wouldn't count on Medicare monies as part of your overall retirement plan. If it's around, it'll just be gravy money.

Click here to read the Medicare Trustees Report.

Have questions? I’m here to help.

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Reed Tinsley, CPA for Physicians