U.S. Medicare Outlook Improves, Social Security Outlook Unchanged

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The budget outlook for the U.S. government's Social Security pension program is largely unchanged while the outlook for its healthcare program for the elderly has improved slightly because of lower hospital and nursing costs, the programs' trustees said on Friday.

Jacob Lew

The budget outlook for the U.S. government's Social Security pension program is largely unchanged while the outlook for its healthcare program for the elderly has improved slightly because of lower hospital and nursing costs, the programs' trustees said on Friday.

Nonetheless, the Social Security and Medicare Board of Trustees said that neither program can meet projected long-term obligations without changes from Congress, urging action as soon as possible.

The trustees said the Social Security fund for retirees will become insolvent in 2033, the same year as a projection made last year.

The main trust fund that supports the Medicare healthcare program for the elderly will run out of money in 2026, two years later than projections made last year.

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