5 Things From Annual Check-up for Social Security, Medicare
(By – RICARDO ALONSO-ZALDIVAR and STEPHEN OHLEMACHER, Associated Press)
Looking at the big picture, the financial health of Social Security and Medicare doesn’t appear to have worsened.
Wednesday’s annual check-up found that Social Security’s retirement trust fund has enough money to pay full benefits until 2035, a year later than previously projected. Medicare’s giant trust fund for inpatient care won’t be exhausted until 2030, the same date as last year’s report. But below those reassuring projections, program trustees said there’s cause for concern. Some 11 million people who receive Social Security disability face steep benefit cuts next year — unless Congress acts. Medicare’s outpatient premium could go up dramatically for a subset of beneficiaries — about 7.5 million people. Read more…