WASHINGTON (Reuters) – Trust funds supporting Social Security and Medicare benefits for U.S. seniors are showing some improvement due to stronger-than-forecast economic growth, productivity and immigration that is boosting revenue collections, according to trustees’ reports released by the U.S. Treasury on Monday.
The Medicare Hospital Insurance Trust Fund’s reserves are now expected to be depleted in 2036, five years later than was expected in last year’s report, Treasury said. After that date, the program that provides healthcare to seniors and some people who are disabled would be able to pay only 89% of total scheduled benefits.
Reserves for the combined Social Security trust funds are now projected to be depleted in 2035, one year later than reported last year. The Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund would then be able to pay only 83% of scheduled pension and disability benefits on a combined basis.
(Reporting by David Lawder; Editing by Paul Simao)
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