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Health News Florida

Go-broke dates for Medicare and Social Security have been pushed back

Medicare_card.jpg
The Florida Channel
Leon County Judge John Cooper on June 30, 2022, in a screen grab from The Florida Channel.

The projected depletion date for Medicare’s trust fund for inpatient hospital care moved back two years to 2028 from last year’s forecast of 2026.

A stronger-than-expected economic recovery from the pandemic has pushed back the go-broke dates for Social Security and Medicare, but officials warn that the current economic turbulence is putting additional pressures on the bedrock retirement programs.

The annual Social Security and Medicare trustees report released Thursday states that Social Security’s trust fund will be unable to pay full benefits in 2035, instead of last year's estimation of 2034.

The projected depletion date for Medicare’s trust fund for inpatient hospital care moved back two years to 2028 from last year’s forecast of 2026.

Click here to read more of this article from the Associated Press.