The go-broke dates for benefit programs Medicare and Social Security have been pushed back as an improving economy has contributed to changed projected depletion dates, according to the annual Social Security and Medicare trustees report.
FILE - Social Security Administration commissioner Martin O'Malley testifies on Capitol Hill, March 20, 2024, in Washington. The go-broke dates for Medicare and Social Security have been pushed back as an improving economy has contributed to changed projected depletion dates, according the annual Social Security and Medicare trustees report released Monday, May 6, 2024.
Meanwhile, Social Security’s trust funds — which cover old age and disability recipients — will be unable to pay full benefits beginning in 2035, instead of last year’s estimate of 2034. Social Security would only be able to pay 83% of benefits. Lawmakers have for years kicked Social Security and Medicare’s troubling math to the next generation. Social Security benefits were last reformed roughly 40 years ago, when the federal government raised the eligibility age for the program from 65 to 67. The eligibility age has never changed for Medicare, with people eligible for the medical coverage when they turn 65.
Business Joe Biden Health Washington News Martin O'malley
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Medicare and Social Security go-broke dates are pushed back in a 'measure of good news'The go-broke dates for benefit programs Medicare and Social Security have been pushed back as an improving economy has contributed to changed projected depletion dates, according to the annual Social Security and Medicare trustees report.
Read more »
Medicare and Social Security go-broke dates are pushed back in a 'measure of good news'The go-broke dates for benefit programs Medicare and Social Security have been pushed back as an improving economy has contributed to changed projected depletion dates, according to the annual Social Security and Medicare trustees report.
Read more »
Social Security trust fund to be exhausted by 2035 and Medicare in 2036, trustees projectThe Medicare trust fund will be exhausted in 2036 and the combined Social Security trust fund and the Disability Insurance trust fund will become exhausted in 2035, the programs’ trustees projected on Monday.
Read more »
As Americans reach ‘peak 65,' here's what to know when planning for Medicare, Social SecurityA “silver tsunami” of baby boomers is expected to enter retirement, prompting big decisions with regard to Medicare coverage and Social Security…
Read more »
As Americans reach ‘peak 65,' here's what to know when planning for Medicare, Social SecurityA “silver tsunami” of baby boomers is expected to enter retirement, prompting big decisions with regard to Medicare coverage and Social Security…
Read more »
GOP jumps on chance to bash Biden on MedicareWhile Biden plays up his Medicare wins, Republicans see a new opening on Medicare Advantage.
Read more »