Medicare hospital fund to last 4 years longer

July 28, 2014 by Stephen Ohlemacher

(AP)—The government says Medicare's finances have improved. The program's hospital trust fund won't be exhausted until 2030—four years later than last year's estimate.

Social Security's massive retirement program will remain solvent until 2034, although disability benefits are in more immediate danger.

The disability trust fund is now projected to run dry in 2016. At that point, the program will collect enough taxes to pay 81 percent of benefits.

The trustees who oversee Social Security and Medicare issued their annual report Monday on the financial health of the government's largest benefit programs.

In 2030, when the hospital trust fund is projected to be depleted, Medicare will collect enough payroll taxes to pay 85 percent of benefits.

Medicare's improved finances are largely due to a slowdown in health care spending.

Explore further: High court rejects Medicare challenge

Related Stories

High court rejects Medicare challenge

January 7, 2013

(AP)—The Supreme Court has turned away a challenge from former House Majority Leader Dick Armey and other Social Security recipients who say they have the right to reject Medicare in favor of continuing health coverage ...

'Obamacare' improves Medicare funding outlook

June 1, 2013

Funding for Medicare health insurance has improved due to health care reforms, but the US Social Security trust fund was still expected to run out in 2033, the government reported Friday.

Recommended for you

Big Data can save lives, says leading cancer expert

May 16, 2016

The sharing of genetic information from millions of cancer patients around the world could be key to revolutionising cancer prevention and care, according to a leading cancer expert from Queen's University Belfast.

New soap to ward off malaria carrying mosquitoes

May 13, 2016

(Medical Xpress)—Gérard Niyondiko along with colleagues Frank Langevin and Lisa Barutel has posted a project on the crowd source funding site ulule for a product called Faso Soap. They claim the soap can cut in half the ...

Smartphones uncover how the world sleeps

May 6, 2016

A pioneering study of worldwide sleep patterns combines math modeling, mobile apps and big data to parse the roles society and biology each play in setting sleep schedules.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.