Last week, the Biden administration and congressional Democrats announced an agreement to pursue a $3.5 trillion “human infrastructure” package, which, among other things, would expand Medicare to include dental, hearing and vision benefits. (The administration also endorses lowering the eligibility age from 65 to 60, but that proposal does not appear to be included in the Democratic framework.) Meanwhile, the trustees charged with overseeing the program’s financial health are late with their annual report; when it is finally released, it is likely to warn that the program’s hospital insurance (HI) trust fund will run out of reserves within several years.
James C. Capretta is a resident fellow and holds the Milton Friedman chair at the American Enterprise Institute.
