The exhaustion of the Medicare hospital insurance fund is a little further away than projected last year, the trustees of the federal government’s two largest entitlement programs, Social Security and Medicare, reported Friday.
The push back of the Medicare trust funds exhaustion date to 2026, is due to a reduction in growth of medical care costs of certain parts of the Affordable Care Act implemented in 2010, the trustees said.
The assets in the Social Security funds will be depleted in 2033, the same date the trustees predicted in last year’s report.
Close to 50 million Americans collect Medicare benefits and more than 55 million retired, disabled, and other Americans receive Social Security benefits, together accounting for 38 percent of all federal outlays.
Read more here on the Medicare insolvency date
