Part 2/9:
As of the latest reports, Medicare provides health coverage to approximately 67.1 million Americans, predominantly those aged 65 and older. In 2023, the federal expenditure for Medicare ballooned to about $482 billion, which represents 14% of total federal spending, equating to about $15,700 per beneficiary annually. With over 89.5% of recipients being senior citizens, the stability and efficacy of Medicare directly impact a substantial portion of the population.