Chances are you see money deducted from every paycheck to fund Medicare. But while the bite may seem big, payroll taxes cover less than 40 percent of program costs. They've never paid for more than 68 percent of Medicare costs - that was in 1980 - and their share of Medicare revenue has been declining steadily for 30 years. In 2011 worker contributions brought in 38.1 percent of Medicare funding. The rest came from contributions from general federal revenues and premium payments.
All monies go into a trust fund which Medicare's own trustees predict will run dry in 2024. Play and share today's special video on the Medicare money problem, then join the discussion below. Does today's fact make you think differently about Medicare?
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BEFORE YOU GO
How to vote
Vote-by-mail ballot request deadline: Varies by state
For the Nov 3 election: States are making it easier for citizens to vote absentee by mail this year due to the coronavirus. Each state has its own rules for mail-in absentee voting. Visit your state election office website to find out if you can vote by mail.Get more informationTrack ballot status
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Sometimes circumstances make it hard or impossible for you to vote on Election Day. But your state may let you vote during a designated early voting period. You don't need an excuse to vote early. Visit your state election office website to find out whether they offer early voting.My Election Office
General Election: Nov 3, 2020
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