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Millennials may be hurt most by waiting to fix Social Security and Medicare
Most Americans know by now that Social Security and Medicare both have financial issues, as evidenced by current projections that Medicare’s Hospital Insurance Trust Fun will run dry in 2026 and Social Security’s “OASDI” (old age, survivor & disability insurance) Trust Fund will be fully depleted in 2034. Without Congressional action soon, that will mean beneficiaries of both programs will face a cut in benefits when the Trust Funds run dry. While that would certainly mean enough pain to go around, it may be the millennial generation which endures the biggest burden, as discussed in this Forbes article by Ted Knutson. Click here to read more.
AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee. AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security. To review AMAC’s Social Security Guarantee, click here.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.