Medicare hospital fund to last 4 years longer
WASHINGTON - 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.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Blue light bulbs out of stock at local businesses following police shooting
New campaign to use anonymous texting to combat bullying
New Roads mayor focus of theft, malfeasance grand jury probe
More than $185,000 raised in Unite for Our Heroes Telethon
More than $160,000 raised in Unite for Our Heroes Telethon