Politics & Government

May 31, 2013

Report: Medicare’s finances improve, Social Security holding steady

Medicare’s troubled finances got a boost when the annual trustees report showed that the program’s hospital insurance trust fund will remain solvent until 2026, two years longer than was projected last year. Social Security has enough cash to cover benefits until 2033, which is unchanged from last year’s projection. The Obama administration credited Medicare’s improved outlook to lower spending for hospital and skilled nursing care, and lower projected program costs for Medicare Advantage plans, the private plans that provide Medicare benefits.

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