July 22, 2015

Medicare trust fund exhausted by 2030

By: OR Manager
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Editor's Note

A report from Medicare trustees on July 22 projects that the Medicare trust fund will be exhausted in 2030.

The report also revealed that recipients of Social Security disability benefits could face steep cuts next year. The fund it expected to run out of money in 2016.

Congress could shift tax revenue from the Social Security retirement fund to cover the disability benefits. But that would deplete the retirement fund, which only has enough money to pay full benefits until 2035.

Republicans want changes in the disability program to reduce fraud and encourage workers to re-enter the work force.

 

Medicare's giant hospital trust fund is projected to be exhausted in 2030, according to a report released Wednesday by its trustees. That estimate matches last year's analysis. Earlier this year, HHS reported that Medicare spending was $316 billion lower than expected between 2009 and 2013 thanks to its policies.

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