Every year the trustees of the Medicare Hospital Insurance Trust Fund and Social Security weigh in with their projections about the long term viability of Medicare. Many years ago, it was said that Medicare would run out of money by now. The government responded by lifting the limit on the contributions that could or would be made to Medicare. This year, assuming no changes, the fund is expected to be depleted by 2026 and the Social Security Trust Fund by 2034. Unless, of course, the market picks up, limits are raised or the percentage of employee income is raised. Etc.
Medicare is running out of money…again…latest from the Trustees (just trust us)
July 31, 2018