Rusty Rims

We have an old horse trailer sitting out back that is no longer mobile, just being used as a storage pod. The steel wheels have gotten so rusty, I am fairly sure it has affected the integrity of them. In other words, I question their safety. That would be my concern of just "covering them up with a wheel cover".
Maybe it's just me, but I would pull them off, sandblast , inspect and paint them.