Medicare Finances Worsen, Social Security Will Tap Reserves for First Time in 36 Years

Medicare Finances Worsen, Social Security Will Tap Reserves for First Time in 36 YearsMedicare’s financial problems worsened last year while Social Security still faces a significant long-term financial crunch — and will need to tap into its reserves for the first time in 36 years, according to annual reports released Tuesday by the programs’ trustees. Social Security encompasses two programs, one for retirees and one that provides disability benefits. Taken together, the trust funds for the two programs are projected to be depleted in 2034, the same as last year.




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