Medicare covers 65 million people, pays out $829 billion in annual benefits, and accounts for 21% of total national health spending. An aging population, increasing costs, and coverage expansions all raise questions about the long-term financing of this hugely popular national insurance program. The availability of sophisticated home-based medical interventions, a new law lowering the price of insulin and other essential drugs, and the growth of Medicare Advantage add to the agency’s administrative and policy responsibilities. In a live “In the Bubble” podcast, Meena Seshamani, director of the Center for Medicare, talks strategy with Andy Slavitt.