The Medicare Hospital Insurance Trust Fund's reserves are now expected to be depleted in 2036—some five years later than was forecast in last year's report, according to the Treasury Department. After that date, the program that provides health care to seniors and some disabled citizens would be able to pay only 89 percent of total scheduled benefits, based on annual tax collections. The combined Social Security Trust Fund is set to be exhausted one year earlier, the Treasury said.
The Medicare Hospital Insurance Trust Fund's reserves are now expected to be depleted in 2036—some five years later than was forecast in last year's report, according to the Treasury Department. After that date, the program that provides health care to seniors and some disabled citizens would be able to pay only 89 percent of total scheduled benefits, based on annual tax collections. The combined Social Security Trust Fund is set to be exhausted one year earlier, the Treasury said.
Social Security Will Go Bankrupt in 2035, One Year Later Than Prior Projections
A new report shows that the Social Security system's main trust fund will be depleted by 2035—one year later than a prior estimate, though concerns remain about the fund's solvency....
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