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Social Security and Medicare Trust Funds Get Reprieve

Category: Medicare

May 8, 2024 — There is some rare good news for both Social Security and Medicare – their trust funds will run out of money later rather than sooner. The date when the Medicare funds will be exhausted has been pushed out 5 years, to 2036. Social Security got a 1 year reprieve, and its trust fund will now run out of money in 2035. The news comes from the just published annual reports of the funds’ Trustees.

The main reason cited for the improvement in the Trust funds is an improved economy and labor market. More people are working and contributing taxes into the programs. Medicare has also made some technical improvements that have reduced expected expenses.

Comments on "Social Security and Medicare Trust Funds Get Reprieve"

Patricia says:

May 17, 2024

2026? Or should it say 2036?

Editor's comment. Thank you, eagle-eyed Patricia. Our mistake, now corrected.

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