Social Security and Medicare funds at risk even before virus ~ News On The Keyboard

Kamis, 23 April 2020

Social Security and Medicare funds at risk even before virus

April 23, 2020 RAS Kamandanu No comments

The financial condition of the government’s two biggest benefit programs remains shaky, with Medicare expected to become insolvent in just six years, while Social Security will be unable to pay full benefits starting in 2035, the government said Wednesday. When Social Security’s reserves are exhausted in 2035, the program will only be able to pay 79% of benefits at that time. The consequences may be worse for the Medicare program, which in this report is estimated to deplete its reserves in 2026.